São Paulo – A survey showed maritime shipping costs for goods imported to Brazil fell in late 2023. A survey carried out by import-specialized fintech Vixtra pointed out that after maritime shipping peaked at 7.4% of imported product prices in Brazil in 2019-2023, it fell to 4.7% in November last year. In December, there was an increase due to geopolitical issues to 5.3%.
In a release, Vixtra said the survey was based on Brazil’s Ministry of Development, Industry, Commerce and Services data. The company reported that freight prices fell in 2023 after price surges amid the pandemic. Still, attacks in the Red Sea resulted in a net increase in maritime shipping costs in December. Attacks against commercial vessels induce rerouting expenses.
A similar movement, an increase followed by a decrease, occurred in all types of freight last year: air, sea, and land. Considering the three segments, the average shipping cost accounted for 3.8% of the imported product prices in 2019, rising to 4.7% in 2020 and 6.9% in 2021. In the following year, 2022, a 7.1% peak was recorded. After that, prices started to fall, closing at 4.9% last year.
Vixtra’s co-CEO, Leonardo Baltieri, said in the release that logistical conditions stabilized after the challenge of previous years, with improvements in transport capacity, optimization of port operations, and a drop in demand concentration. According to him, this translated into a reduction in product prices.
Air
Concerning air freight, in 2019, it represented 4.5% of the price of products imported to Brazil through this mean, 6.6% in 2020, 8.6% in 2021, 8.2% in 2022, and 5% in 2023.
Maritime
Maritime shipping represented 3.7% of the prices of imported goods in Brazil in 2019, then rose to 4.4% in 2020, 6.9% in 2021, 7.2% in 2022, and fell to 5% in 2023.
Road
The share of ground shipping costs in import prices in Brazil was 3.5% in 2019, remained the same in 2020, fell to 2.8% in 2021, increased slightly to 2.9% in 2022, and plateaued to 3% in 2023 due to rising diesel prices.
Translated by Elúsio Brasileiro
