Panama Canal drought

Shipping disruptions may weigh heavily on U.S. ag exports

Delivery times are lengthening and shipping costs are rising for U.S. farm exports due to drought that has slowed traffic in the Panama Canal and attacks by militants on cargo ships in the Red Sea, said analysts on Tuesday. "These issues have not only underscored the fragility of key maritime routes but also have had a cascading effect on global agricultural supply chains, having the potential to disrupt 2024 U.S. agricultural exports severely," they said.