“Supply Chain Crisis Not Seen Since WWII” [???]
October 20th, 2021Via: Daily Mail:
The current supply chain crisis is one unseen since World War II when ‘there were submarines sinking commercial traders,’ an expert says, and it’s bringing disaster for shoppers as items are being resold for more than double their cost and shipping delays mean more barren shelves.
Holiday shopping is expected to be especially fraught this year, as buyers contend with aggressive resellers and inflated prices – some jacking up toy prices by 400%.
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It’s not just toys and goods that are becoming harder to find ahead of the holidays.
Stocking the fridge for holiday festivities could also be a challenge, with turkey giant Butterball warning that smaller birds might be harder to find this year.
Overall food prices are skyrocketing in the U.S., where beef prices have jumped 12.2 percent during the past year and the cost of bacon increased 17 percent, according to the U.S. Department of Labor.
Meat, poultry, fish and eggs sold at an eight percent premium this year, with prices up 15.7 percent since August 2019.
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It takes twice as long as it normally would for a freight order from China to reach its final U.S. destination, Ocean Audit Inc. chief executive Steve Ferreira told Dailymail.com.
It’s also more expensive to move commerce by ocean freight.
About a year ago, retailers paid about $1,100 for a 40-foot crate traveling from Asia to LA.
The price has since skyrocketed to $5,000 per box, with some big box stores paying upward of $9,000 per container to ensure delivery, Ferreira said.
