Key Takeaways – Q3 2024
Q3 2024 Market Update
Prices for imported goods in the foodservice industry are likely headed up due to election-year trade and tariff actions being taken by the US administration on key component substrates, aluminum, and molded fiber.
Another factor likely to add to price pressure through the second half of ‘24 is anticipation about potential for anti -dumping duties to be levied by the US on goods from China.
And as if that wasn’t enough, the global container freight system is again unsettled by geopolitical and infrastructural issu es; attacks on cargo ships in the Red Sea by Houthi Rebels siding with Hamas over the war in Gaza are forcing longer-than- normal routings around the southern tip of Africa, which in-turn ties up vessels and cargo berths for several additional days per each voyage; anxious retailers, concerned about space availability are placing import orders early and bidding up spot market shipping rates to ensure they get space on boats; ocean container firms have increased instances this year of blank- sailings where vessels “skip” scheduled port -calls or voyages to optimize fleet utilization, operations and / or profitability; once more, as it did earlier this decade, the interwoven trans-oceanic supply chain demonstrates its vulnerability to disruption. Answering these challenges, ACR’s Supply Chain experts have diligently maintained focus on these issues, planning and executing sourcing strategies that have diversified manufacturing points for upwards of half of our product portfolio to geo- politically favorable countries. Our logistics teams are on top of every container shipment to secure space, optimize routing and ensure smooth product flow, and our warehouse teams in North America do everything possible to ship orders complete and on-schedule. ACR teams are committed to the success of your business, keeping your foodservice essentials flowing and your operating costs in-line.
Finally, we’ve got some BIG NEWS to share! Keep your eyes on AmerCareRoyal’s Linked In and Facebook pages in late June leading up to a big announcement on July 2. And follow us on those pages for information & insights!
Count on us to help your business win each day!
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