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Soaring freight costs will squeeze traders, boost food prices

from AgWeb

It's getting more expensive to transport commodities around the world, threatening to squeeze profits for global traders and raise food prices. The Baltic Dry Index, a benchmark of shipping rates, surged 73 percent in 2017 to a four-year high because of a slowdown in new bulk freight capacity. More than 85 percent of global trade in grains and oil seeds is transported by dry-bulk carriers, according to Rabobank International. more

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