Restaurant Supply Product Pathway
Q4 2023 Market Update
SUMMARY: Supply flow to North America is unconstrained, essentially back to pre-pandemic normal
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
Indications point to possible mild increases early in 2024 on gloves (suppliers regaining profitability), paper (sanctions on Russian timber), and plastics (increased resin / fossil fuel hikes). Notwithstanding sudden COVID resurgence, overseas labor and factory production are strong.
“Blank sailings” - canceled voyages or skipped port calls to avoid low- revenue voyages – on the rise in Q3 ’23, causing some minor scheduling challenges for overseas importers. Otherwise, ocean shipping to North America and US & Canadian port functions are stable.
USDA port holds on gloves are up in response to quality and dumping issues.
Diesel prices are up in late Q3 2023.
Warehouse capacity across North America is back to pre-pandemic norms.
Truck Driver shortage has improved 23% 2023 but is still acute.
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