Grain Importing Nations Are Hurting From Rising Freight Rates

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Trade flows of grains are undergoing significant shifts.  The war in Ukraine will put further pressure on grain-importing countries in Africa and Asia as a reduced number of vessels for delivering cargoes drives up shipping rates, according to the head of the International Chamber of Shipping.

In addition to the situation in Ukraine, freight rates are also being affected by China’s efforts to battle the spread of Covid-19. Hundreds of bulk ships are facing delays off China’s coast as authorities in cities including Shanghai lock down cities.