Container rates, which had been rising for the previous three years, have dropped by almost 40% year over year, providing India Inc. with a much-needed respite from rising freight expenses. According to industry experts, the nation’s average container price fell to $2088 from $3288 in March, implying more predictable shipping costs, improved profit margins for businesses, and maybe more dependable supply chains.
In the wake of skyrocketing costs up to 200% and a shortage of containers, commerce and freight rates were significantly disrupted, affecting businesses’ bottom lines. With a current trend in the supply of containers reversing the pattern from last year, things have started to get better.
