Restaurant Supply Product Pathway
Q1 2024 Market Update
SUMMARY: Supply flow to North America seeing effects from Middle East and Panama Canal crises
MANUFACTURING
OCEAN LOGISTICS
GROUND LOGISTICS
RAW MATERIAL AVAILABILITY
CARGO BIRTH AVAILABILITY
INBOUND PORT TIME
DIESEL FUEL COST
BLANK SAILINGS
COST
.
DOCK TERMINAL TIME
FACTORY OUTPUT
WAREHOUSE
LABOR
LABOR
PORT LABOR
Post-pandemic demand reduction drove production of Gloves well below industry capacity in 2023. Expectations are that production rates will increase to show mid single- digit gains over prior year.
Attacks on vessels in the Suez canal related to the war in Gaza, and low water levels due to drought in Panama have added up to two weeks to transit times on critical shipping routes to North America.
Port congestion will likely increase in Q1 driven by Gaza war and Panama drought disruption. US diesel costs down 10% since last fall and prices in Canada are lower versus this time last year.
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