Market and Business Update - November 2023

Date: 21 November 2023

Elevated food price index stabilized since September, while some provisions still on the rise

Since September 2023, ocean freight rates have decreased due to overcapacity, and crude oil prices have dropped around 18%, but are expected to increase and start fluctuating in the coming months due to the war in the Middle East. The average FAO price index for food dropped by 0.5%. Yet, sugar, rice, and salmon are on the rise, mainly driven by adverse weather patterns and an increasing demand...

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