The Containerized Freight Index has more than doubled since the beginning of October 2023, from 850 to 2,179 points. It increased 419 points or 24% since the beginning of 2024 alone.
Global commodity prices have fallen and traders have also built good stocks of sugar, dates, edible oil, pulses, chickpeas and onions for Ramadan market, but there is no good news for local consumers.