Ocean freight rates are an important component to pricing on imported goods. According to data from Freightos.com, shipping rates for a 40-foot container from Asia to the U.S. West Coast have dropped by over 80% since April 2022, while rates to the East Coast have fallen by nearly 2/3. Many rates are once again at pre-pandemic levels. More importantly, the congestion at key ports has significantly eased, eliminating the weeks or months-long delays which some shippers had experienced starting in late 2020 and lasting through mid-2022 and which resulted in major condition issues for highly perishable specialty crops stuck onboard in some cases. One key driver behind these declines is likely to be a reduction in consumer spending over the past two years, resulting in less demand for ocean freight.
Movement of blueberries from Peru imports through Miami, Philadelphia, and New York ports of entry via boat expected to decrease seasonally. Trading moderate with prices unchanged. Flats 12 1-pint cups with lids large 26.00-32.00, flats 12 6-ounce cups with lids large 16.00-20.00. Quality is reported as good. Movement of blueberries from Mexico crossings through Arizona, California and Texas is expected about the same. Trading was slow at slightly lower prices. Flats 12 1-pint cups with lids mostly 24.00-26.00. Flats 12 6-ounce cups with lids mostly 16.00. Quality is reported as variable, with many present shipments from prior bookings and/or previous commitments.
Movement of avocados from Mexico crossing through Texas is expected about the same. Trading fairly slow with demand expected to pick up in the next month due to holiday demand followed by the Super Bowl. Prices 36s, 48s, and 70s-84s were lower with others generally unchanged. Cartons 2-layer Hass 36s mostly 46.225-48.25, 40s mostly 38.25-40.25, 48s mostly 34.25-36.25, 60s mostly 25.25-26.25, 70s mostly 20.25-21.25 and 84s mostly 16.25-17.25.
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Source: mymarketnews.ams.usda.gov