Price increases at supermarkets are on the rise. Red Sea shipping crisis might be a long-term issue

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Presently, the delays in international trade have been caused by a plethora of ships turning around Africa to avoid attack within the Red Sea. The delays could cause months of disruption, as well as a likely increase in prices for the supply of household goods and food products.

Based on new data that show no less than 350 ships, more than 50% of all which normally traverse this area Red Sea and the Suez Canal is now being rerouted through to the Cape of Good Hope, which can add the possibility of 10 days plus PS1.6 millions in added expenses to scheduled trips that connect Asia in Europe. Food items, fish, and meats grain, wine coffee, tea and more are in danger due to the disruption in travel.

Maersk is the second largest container shipping firm according to capacity, Tuesday night, announced that it will be extended a stop of 48 hours to vessels that travel across the Red Sea after one of their ships was targeted on Sunday. The Danish-owned shipowner said that it was studying an “constantly changing circumstance” in the area of trade and didn’t provide any timeframe for that vessels would be allowed to resume their journeys via Suez Canal. Suez Canal.

Source: inews.co.uk

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Source: The Plantations International Agroforestry Group of Companies