The traffic jam in the Panama Canal due to drought will cause disruptions in certain markets

Published 2023년 9월 4일

Tridge summary

Restrictions on traffic in the Panama Canal due to drought will impact global cereal and fruit exchanges, warns Rabobank. The canal authority announced reduced access for a year due to the lack of rain caused by El Niño, unless September brings enough rain to replenish the reserves. The first victim will be Peru, with their blueberry exports starting in September, followed by other fruits in January, and the US grain exports to Asia will also be affected.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Traffic restrictions in the Panama Canal due to drought will have repercussions on global cereal and fruit exchanges, according to a recent study by the Dutch bank Rabobank. The authority that manages the canal announced at the end of August that access to it would be reduced for a year due to the lack of rain and the El Niño phenomenon, unless there is enough rain in September to recover the reserves in the lakes that They supply the canal and half of the population of Panama. This situation will mean restrictions on reservations, longer deadlines and higher costs. Peru will be the first victim: the export of blueberries begins in September and the peak of departures occurs in the months of October, November and December. Exports of other fruits (mangos, ...

Source: Agropopular