Dairy Processing - March/April 2023 - 47

the craziness that we have all experienced in the last two and half years. "
In April 2020, at the beginning of the COVID-19 pandemic, images of tanker
trucks on the side of the road dumping excess milk were all over the news. In
peak COVID, the congestion of 109 container ships sitting offshore near Los
Angeles and Long Beach, Calif., in January 2022 made headlines.
" This industry went through a near-death experience, " Rooney said. " It was
total mayhem. "
Many of the extreme cases of transportation logistics issues have eased in
recent months. But now inflation weighs heavy on the industry.
" While the circle of inflation affecting freight rates and freight rates affecting
inflation is set to continue in the short term, the outlook is positive for pressure
coming down in the not-too-distant future - albeit not to the levels seen before
COVID due to inflation's impact on operational costs, " according to a recent
report from A.P. Moller - Maersk, an integrated container logistics company.
The S&P Global Market Intelligence 2023 US macroeconomic baseline
forecast is indicating a recession in the first two quarters with a recovery in
growth in real gross domestic product (GDP) in the second half of the year.
A combination of factors will lead to reduced demand in 2023 as the
economy falls into a recession. These factors include inflation, consumer and
business spending, inventories and a US Federal Reserve Board monetary policy
focused on taming inflation.
VOLATILE FUEL PRICES
Fuel prices have an extensive impact on the cost of food, especially in the
US. As fuel prices increase, so does the operational costs associated with
transporting food products from farms and production plants to grocery
stores.
The ripple effects of higher fuel prices are felt not just by consumers at
the grocery store but throughout entire supply chains.
The impact of fuel prices on freight costs to shippers is an unknown for
remainder of the year. The average on-highway diesel price reported by the
©Cedric Tosoni-stock.adobe.com

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Dairy Processing - March/April 2023

Table of Contents for the Digital Edition of Dairy Processing - March/April 2023

Dairy Processing - March/April 2023 - Intro
Dairy Processing - March/April 2023 - 1
Dairy Processing - March/April 2023 - 2
Dairy Processing - March/April 2023 - 3
Dairy Processing - March/April 2023 - 4
Dairy Processing - March/April 2023 - 5
Dairy Processing - March/April 2023 - 6
Dairy Processing - March/April 2023 - 7
Dairy Processing - March/April 2023 - 8
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Dairy Processing - March/April 2023 - 11
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