At least one large local manufacturer has warned of looming price increases driven by the increased prices and lack of containers. “Shipping costs have gone up more than 300 per cent. This is compounded by a lack of containers, which has created disruption in supply chain logistics. Many of these commodities serve as raw material in our manufacturing processes: wheat, corn, sugar, edible oil, feed ingredients for the cows,” shared Seprod CEO Richard Pandohie in a recent Gleaner article.
“…the shipping dilemma is likely to continue for the rest of the year with more increases expected to come into the second half of 2021. This, he expects, will likely lead to a decline in consumption patterns.”