As 2023 comes to an end, the impact of the COVID-19 pandemic fades and global trade gradually returns to normal.
This year became the most normal year in nearly three years, and all industries began to recover.
There are price changes in all months except January when there is no relevant offer. The following is a review and outlook of the price trend of various port products in 2023.
First of all, as can be seen from the chart, from the beginning of the year to September, sea freight has shown a gradually decreasing trend.
This was mainly due to the increased demand for maritime transport as the global epidemic was brought under control and national economies gradually recovered.
At the same time, due to the large amount of transport capacity accumulated during the epidemic is gradually digested, the situation of excess capacity has been alleviated, and freight rates have gradually begun to rise.
However, in October-December, prices began to rise due to tensions in the Middle East.
This is mainly due to the Middle East is one of the world's important transport hubs, tensions have led to obstruction of shipping routes, reduced capacity, and freight rates naturally rise.
At the same time, as winter is the peak season for transportation, increased demand has also further pushed up freight rates.
In terms of product development, in 2023 we launched a series of new products such as frozen noodles, butter and canned fish to enrich our product line.
This shift shows that our products are moving away from traditional canned food to a more diversified direction.
The launch of these new products not only meets the increasingly diversified needs of consumers, but also further improves the company's market competitiveness.
Looking ahead to 2024, the price of related products is expected to be difficult to determine in the first two months due to the impact of the worsening situation in the Middle East.
At present, all shipping companies have suspended operations on the Red Sea route, with the last ship leaving on December 24, 2023.
We sincerely hope for world peace so that normal trade can resume. In the coming months, we will closely monitor the development of the situation in the Middle East and adjust our transportation program at any time to ensure the smooth movement of goods.
In the unfinished work, in 2023 we accumulated some article writing tasks, such as the price trend analysis of canned tomato sauce and the sorting of the opening sample pictures of canned products.
We plan to complete these efforts in the first quarter of 2024. In addition, with the increase in product range, we will redesign the product catalog in 2024 and make products more rationally categorized.
At the same time, we have an innovative idea to aggregate the relevant information monthly and compile an annual report, which will provide our customers with a more comprehensive market analysis.
All in all, we are full of confidence and expectations for 2024. We will continue to work hard to create more opportunities and value for the New Year.