US EditionMiddle East Exports: NZ Dairy, Meat Exporters Monitor US-Iran Conflict Closely
Kotahi manages 4,000 TEU of cargo amid suspended Strait of Hormuz services; chilled exports worth $166 million face potential delays, while alternative routes are assessed.
- Yesterday, Kotahi chief executive Emma Parsons said all shipping lines suspended services through the Strait of Hormuz, but exports to the United Kingdom and Europe remain unaffected via alternative routes.
- The Meat Industry Association said nearly all exports to the Gulf Cooperation Council, worth $298 million last year, transit through Hormuz.
- Kotahi reported it has 4,000 TEU of cargo in transit and the Ministry of Foreign Affairs and Trade is organising a briefing for exporters.
- If Hormuz is closed, congestion will mainly impact chilled exports to the Middle East, worth $166 million last year, according to the industry.
- Amid high unpredictability, industry advisers said companies learnt resilience lessons during Covid and exporters need to work with logistics providers early as the situation remains highly unpredictable.
19 Articles
19 Articles
Along with the jump in oil prices, the uncontrolled rise in the cost of transportation has been one of the most noticeable market reactions to the conflict in the Middle East, which began on Saturday and effectively led to the near-complete blocking of the vital Strait of Hormuz passage.
Livestock exports not affected by Middle East conflict
Chris Lehner at ADM Investor Services said, “Trade volume was active Friday and much of it had to do with increasing spec bear spreading and unwinding bull spreads. Large traders and funds have been absent since the beginning of the…
The West Australian
CountrymanAustralian ag sector closely monitoring Middle East conflict
Australia’s agriculture sector is cautiously and closely watching the unfolding Middle East conflict that erupted over the weekend, as oil prices are predicted to soar after the closure of the Strait of Hormuz.
Coverage Details
Bias Distribution
- 60% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
