Trade

BRACE FOR HIGHER PRICES OR EMPTY SHELVES IN XMAS EXPECTS RETAILERS

BRACE FOR HIGHER PRICES OR EMPTY SHELVES IN XMAS EXPECTS RETAILERS

Rising prices of shipping containers is going to impact the prices of goods.

Retailers have also warned of further disruption and delays for goods this Christmas as increasing pressure continues to build on global supply chains.

The closure of a terminal at Ningbo-Zhoushan port in China, which handled cargo equivalent to almost 29 million containers last year is creating a lot of hurdles in hassle free supply chain.

The shutdown has cut capacity at the site by a quarter at the busiest time of year, as retailers across the West gear up for the festive season.

Larger chains have already been trying to hoard stock to head off supply issues, but there is a limit to the warehouse space they have available.

While rising prices have led some toy importers to delay their orders, even those who are willing to pay can’t always secure a container.

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