Exotic fruits lead reefer trade growth

reefer reportSEPTEMBER 26, 2013 — The latest Reefer Shipping Market Annual review and Forecast from Drewry Maritime Research reports that worldwide perishable reefer trade increased by 52.1 million tonnes between 2002 and 2012, a combined annual growth rate (CAGR) of 3.6%. Seaborne perishable reefer cargo has increased by a CAGR of 3.3% (25.6 million tonnes) from 66.8 million tonnes in 2002 to 92.4 million tonnes in 2012.

The highest percentage growth continues to be seen in the exotic fruit category (pineapples, kiwifruit and avocados). Despite its relatively small volume of 4.5 million tonnes in 2012, this sector has grown by a CAGR of 9.1% since 2002. In terms of tonnage, the highest growth has been in the meat category (poultry, pork, beef/veal, offal and sheep meat). This grew from 22.8 million tonnes in 2002 to 36.3 million tonnes in 2012 – a CAGR of 4.8%. Seaborne trade in the meat category has grown by 8.3 million tonnes – a CAGR of 4.6%.

Kevin Harding, editor of the report, says " it is important to note that the import patterns have changed considerably during the past decade. Western Europe has declined to a 38% share of worldwide imports – although still importing 66 million tonnes of cargo in 2012. Eastern Europe's importance has grown from an 11% share in 2002 to a 13% share in 2012 – with cargo tonnage increasing by 76% over this period."

MORE

Want more? Subscribe now!

News from NASDAQ