Bloomberg: Red Sea crisis could lead to higher food prices in Europe

1/19/2024, 10:05:41 AM

Highlights: Bloomberg: Red Sea crisis could lead to higher food prices in Europe. The food ships were forced to change their route due to the Houthi attacks to a longer and more expensive route, which involves skirting the entire African continent. Earlier, the Danish logistics corporation AP Moller-Maersk warned customers about the risk of global disruptions in the transportation network due to tensions in the Red Sea. "The chaos in theRed Sea is beginning to disrupt supplies of food from coffee to fruit and threatens to halt the slowdown in food price inflation," the report said.

An escalation of the situation in the Red Sea could disrupt food supplies and increase food prices in European countries.

Bloomberg writes about this.

The article says that the food ships were forced to change their route due to the Houthi attacks to a longer and more expensive route, which involves skirting the entire African continent.

As the agency writes, against the backdrop of this trial, there is a risk of not being able to deliver products before their expiration date.

"The chaos in the Red Sea is beginning to disrupt supplies of food from coffee to fruit and threatens to halt the slowdown in food price inflation," the report said.

Earlier, the Danish logistics corporation AP Moller-Maersk warned customers about the risk of global disruptions in the transportation network due to tensions in the Red Sea.