Restaurant Supply Product Pathway
Q2 2024 Market Update
SUMMARY: Stable material costs, agile global shipper response to Baltimore accident, positive overall status
MANUFACTURING
OCEAN LOGISTICS
GROUND LOGISTICS
RAW MATERIAL AVAILABILITY
PORT DISRUPTION
INBOUND PORT TIME
DIESEL FUEL COST
CONFLICT DISRUPTION
COST
.
DOCK TERMINAL TIME
FACTORY OUTPUT
WAREHOUSE
LABOR
LABOR
PORT LABOR
Most glove material costs remain stable, though raw latex rose in Q1 due to typical late-winter Malaysian monsoon. Pulp prices drive paper cost and pulp rose nearly 10% in Q1 – finished paper prices are expected to rise, near term. Strikes in Finland are impacting large shares of baking paper availability. (RISI) Non-China Asian economies are strengthening so far in 2024 as North American importers diversify sourcing options away from mainland China.
Port delays, due mostly to labor and equipment shortages, are generally isolated at the start of Q2, even with Baltimore’s bridge collapse. . US diesel prices declined in Q1, lower by 3.2% versus prior year, opening April at the lowest level since October of last year. Canadian diesel was lower by 2.9% versus prior year first week of April.
The collision and collapse of the Key Bridge in Baltimore (US 11th largest port) poses limited disruption to global import / export logistics, analysts say. Attacks on shipping in the Red Sea related to the war in Gaza continued to drive voyage reroutes around the Cape of Good Hope
AmerCareRoyal© 2024
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