EXPORTS FROM KOL PORT GRAPPLES WITH RISING FREIGHT, RICE BAN, GLOBAL TENSIONS

Freight charges, especially for West Coast destinations, have surged by 30-50% since Dec 2023 due to the escalating conflict in Red Sea

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Exports from the Kolkata port, a vital gateway to eastern India, are grappling with a myriad of challenges, officials reported on Sunday. The factors contributing to this predicament include geopolitical tensions, a government-imposed ban on rice exports, and exorbitant ocean freight costs. These issues collectively pose a potential threat to the smooth flow of trade activities.

Key export commodities, including engineering goods, shrimp, and rice, have been adversely affected in recent weeks. Freight charges, particularly for West Coast destinations, have experienced a steep increase of 30-50% since December of the previous year due to escalating conflicts in the Red Sea.