2022-08-29 22:34:51
Russia faces a new jump in prices for electronics: China has doubled the cost of container transportation
The slowdown in inflation, which Rosstat has been reporting since the beginning of summer and which, according to the forecast of the Ministry of Economic Development, should last until the end of the year, may be living out its last weeks.
Chinese companies have sharply raised prices for container shipments of electronics and household appliances to Russia after Western logistics providers announced a boycott of the Russian market.
If in February the delivery of one container from China cost $6,000, now it costs $10,000-12,000, Kommersant reports, citing representatives of major electronics distributors.
By freezing deliveries to Russia after the start of the war, China returned them to pre-crisis levels in July – $6.3 billion a month. But the delivery of containers from China was so expensive only once in history - during a pandemic, when the global economy was covered by a logistical collapse. Compared with the levels of 2019, prices have almost tripled.
In addition to Chinese companies, Turkish companies are raising prices, and this is a surprise for the market, says Gleb Mishin from Hoover Group: after the pandemic, everyone expected a reduction in shipping costs. As for deliveries from Europe, they have practically stopped: the turnover of the seaports of the Baltic Sea has collapsed by 90%. The cost of delivery by road has jumped by 250-500%.
The result will be an inevitable increase in the "price tags" for end users. A brake on a new wave of inflation in Chinese consumer goods can only be a fall in citizens' incomes and a decrease in effective demand.
#politics #money #logistics #consequences of sanctions
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