Tuesday, March 30, 2010
Plastic Bag Tug of War
First-ever countervailing duty to be imposed on Vietnam
The Department of Commerce has issued final determinations of anti-dumping duties to be imposed on plastic grocery bags made in Taiwan, Indonesia, and Vietnam.
Polyethylene retail carrier bags — or PRCBs — have been the source of trade disputes between U.S. domestic producers and Asian manufacturers for years. These latest duties are the result of an International Trade Commission (ITC) import injury investigation launched last year. The ITC is expected to announce its final decision April 14. (Access the files on the preliminary and final phases of the ITC investigation here and here.) A second investigation focused on PRCB exporters in China, Malaysia and Thailand is also underway, with a final report due May 24 (ITC files here).
King & Spalding, legal counsel for the petitioners requesting both investigations, provides company-specific details of the ITC determination that sets dumping margins ranging from 69.64% to 85.17% for Indonesian producers, and 52.30% to 76.11% for Vietnamese producers. An earlier release covers the Taiwanese margins, which range from 36.54% to 95.81%.
Dumping margins of this dimension effectively bar the affected exporters from the U.S. market. When game-changers like this occur, The Datamyne’s bill of lading database can provide the transaction-level detail needed to locate supply-chain disruptions — and new opportunities to source or supply, ask us how.
The Department of Commerce has issued final determinations of anti-dumping duties to be imposed on plastic grocery bags made in Taiwan, Indonesia, and Vietnam.
Polyethylene retail carrier bags — or PRCBs — have been the source of trade disputes between U.S. domestic producers and Asian manufacturers for years. These latest duties are the result of an International Trade Commission (ITC) import injury investigation launched last year. The ITC is expected to announce its final decision April 14. (Access the files on the preliminary and final phases of the ITC investigation here and here.) A second investigation focused on PRCB exporters in China, Malaysia and Thailand is also underway, with a final report due May 24 (ITC files here).
King & Spalding, legal counsel for the petitioners requesting both investigations, provides company-specific details of the ITC determination that sets dumping margins ranging from 69.64% to 85.17% for Indonesian producers, and 52.30% to 76.11% for Vietnamese producers. An earlier release covers the Taiwanese margins, which range from 36.54% to 95.81%.
Dumping margins of this dimension effectively bar the affected exporters from the U.S. market. When game-changers like this occur, The Datamyne’s bill of lading database can provide the transaction-level detail needed to locate supply-chain disruptions — and new opportunities to source or supply, ask us how.
Plastic Bags Upstream & Down
PRCBs are once and future export drivers
Stepping back from the trade tug of war over the U.S. market for polyethylene retail carrier bags, overseas suppliers make a positive contribution to growth in U.S. export sales of the low density polyethylene resins from which PRCBs are made.
PlasticNews reports that LDPEs, along with five other major commodity resins tracked by the American Chemistry Council, showed domestic sales losses in 2009, but posted overall growth thanks to big boosts in sales to export markets.
Downstream, discarded PRCBs have become such an environmental headache that some localities are outlawing them. While the American Chemistry Council reports recycling has reached an all-time high, only about 13% of plastic bags are recycled annually. And yet … the major market for the recycled material is the nascent composite-lumber sector. As composite lumber builds share in home and commercial construction, international demand for scrap plastic has begun to edge up. This new video explores both sides of the recycling issue.
Stepping back from the trade tug of war over the U.S. market for polyethylene retail carrier bags, overseas suppliers make a positive contribution to growth in U.S. export sales of the low density polyethylene resins from which PRCBs are made.
PlasticNews reports that LDPEs, along with five other major commodity resins tracked by the American Chemistry Council, showed domestic sales losses in 2009, but posted overall growth thanks to big boosts in sales to export markets.
Downstream, discarded PRCBs have become such an environmental headache that some localities are outlawing them. While the American Chemistry Council reports recycling has reached an all-time high, only about 13% of plastic bags are recycled annually. And yet … the major market for the recycled material is the nascent composite-lumber sector. As composite lumber builds share in home and commercial construction, international demand for scrap plastic has begun to edge up. This new video explores both sides of the recycling issue.
Monday, March 29, 2010
Global Bounce Back
WTO forecasts 9.5% growth in trade volumes
The World Trade Organization (WTO) projects a rebound in world trade in 2010, recovering some, but by no means all, ground lost in 2009, when global trade volumes contracted 12.2% — the largest decline since World War II. If growth keeps to the current pace, it will take another year for trade volumes to surpass 2008 peak levels.
The WTO report measures trade on a volume basis because it provides a more reliable point of year-by-year comparison, undistorted by changes in commodity prices or currency fluctuations.
One good thing about the dismal year just past: no significant new barriers to trade were raised. Trade volumes tumbled because global demand contracted. The mix of products involved, the presence of global supply chains, and the synchronization of decline across countries were factors that steepened the fall.
The World Trade Organization (WTO) projects a rebound in world trade in 2010, recovering some, but by no means all, ground lost in 2009, when global trade volumes contracted 12.2% — the largest decline since World War II. If growth keeps to the current pace, it will take another year for trade volumes to surpass 2008 peak levels.
The WTO report measures trade on a volume basis because it provides a more reliable point of year-by-year comparison, undistorted by changes in commodity prices or currency fluctuations.
One good thing about the dismal year just past: no significant new barriers to trade were raised. Trade volumes tumbled because global demand contracted. The mix of products involved, the presence of global supply chains, and the synchronization of decline across countries were factors that steepened the fall.
Friday, March 26, 2010
U.S. Imports Surge
Latest stats from The Datamyne show 15.9% jump in February
The Datamyne’s latest statistics from its U.S. imports bill of lading database show imports recovering this February as compared with February 2009, but still short of prerecession levels.
Here are the TEU (20-foot equivalent unit) tallies:
Feb. 2010 1,120,239
Feb. 2009 966,942
Feb. 2008 1,394,173
Feb. 2007 1,442,657
Container shipments from China, the top source for U.S. imports, were up 3.5% in January, and 23.2% in February, compared to the same months one year ago, final figures show.
Earlier data on increased imports coupled with discouraging returns on such indicators as consumer confidence and disposable income led Bill Armbruster to wonder whether the surge in imports is a triumph of hope over reality (see Cockeyed Optimism).
The Datamyne’s latest statistics from its U.S. imports bill of lading database show imports recovering this February as compared with February 2009, but still short of prerecession levels.
Here are the TEU (20-foot equivalent unit) tallies:
Feb. 2010 1,120,239
Feb. 2009 966,942
Feb. 2008 1,394,173
Feb. 2007 1,442,657
Container shipments from China, the top source for U.S. imports, were up 3.5% in January, and 23.2% in February, compared to the same months one year ago, final figures show.
Earlier data on increased imports coupled with discouraging returns on such indicators as consumer confidence and disposable income led Bill Armbruster to wonder whether the surge in imports is a triumph of hope over reality (see Cockeyed Optimism).
Thursday, March 18, 2010
Bands of Gold ...
… already tie U.S. & India as they sign trade framework
U.S. Trade Representative Ron Kirk and Indian Minister of Commerce and Industry Anand Sharma signed a “Framework for Cooperation on Trade and Investment” March 17, and followed up by launching the “Integrating U.S. and Indian Small Businesses into the Global Supply Chain” initiative. Both governments have recently implemented policies aimed at getting more small businesses to engage in cross-border trade, the U.S. with the National Export Initiative, and India in the form of 2010-11 budget objectives that extend a subsidy for small and medium exporters. U.S.-India trade has more than doubled in the last five years.
The Datamyne ranks “petroleum oils and oils from bituminous minerals” (HS 270900) as India’s leading import from the U.S. Ranked number 2 and 3 are “gold, nonmonetary, unwrought” (710812) and “gold, nonmonetary, semimanufactured” (710813) — to be expected, given that India is the leading consumer and the U.S. one of the leading sources for gold (although The Datamyne top 5 U.S. exporting districts may surprise).
India is also one of the largest exporters of gold jewelery items in the world. India’s export of gold jewelery products in February 2010 saw a big jump of 37.51% compared to the same period last year, according to provisional figures released by India’s Gem and Jewelery Export Promotion Council (GJEPC). Closing the circle, U.S. is the largest importer of India-made gold jewelery items.
The Datamyne can help you learn more about opportunities to buy and sell in India. Contact us.
U.S. Trade Representative Ron Kirk and Indian Minister of Commerce and Industry Anand Sharma signed a “Framework for Cooperation on Trade and Investment” March 17, and followed up by launching the “Integrating U.S. and Indian Small Businesses into the Global Supply Chain” initiative. Both governments have recently implemented policies aimed at getting more small businesses to engage in cross-border trade, the U.S. with the National Export Initiative, and India in the form of 2010-11 budget objectives that extend a subsidy for small and medium exporters. U.S.-India trade has more than doubled in the last five years.
The Datamyne ranks “petroleum oils and oils from bituminous minerals” (HS 270900) as India’s leading import from the U.S. Ranked number 2 and 3 are “gold, nonmonetary, unwrought” (710812) and “gold, nonmonetary, semimanufactured” (710813) — to be expected, given that India is the leading consumer and the U.S. one of the leading sources for gold (although The Datamyne top 5 U.S. exporting districts may surprise).
India is also one of the largest exporters of gold jewelery items in the world. India’s export of gold jewelery products in February 2010 saw a big jump of 37.51% compared to the same period last year, according to provisional figures released by India’s Gem and Jewelery Export Promotion Council (GJEPC). Closing the circle, U.S. is the largest importer of India-made gold jewelery items.
The Datamyne can help you learn more about opportunities to buy and sell in India. Contact us.
Designing in NY?
… Design Your Export Future
The U.S. Commercial Service is offering Exporting 101, a one-day seminar featuring executive-level, pragmatic presentations from experts in international business expressly for designers of apparel, films/videos, footwear, furniture, consumer goods, jewelry, toys/games, textile fabrics. Register here for the April 13 seminar in NYC.
The U.S. Commercial Service is offering Exporting 101, a one-day seminar featuring executive-level, pragmatic presentations from experts in international business expressly for designers of apparel, films/videos, footwear, furniture, consumer goods, jewelry, toys/games, textile fabrics. Register here for the April 13 seminar in NYC.
Tuesday, March 16, 2010
Brazil's Countdown Continues
Scope of threat broadens
Brazil has broadened the scope of threatened retaliation to include 21 new items, including pharmaceuticals, music and movies (http://bit.ly/cQQ7a8), which would be subject to not only tariffs but also suspension of patents and intellectual property (IP) rights (http://bit.ly/cLNimL). Without concessions from the U.S., the higher tariffs on the original 102 targets are set to go into effect April 7.
Brazil has broadened the scope of threatened retaliation to include 21 new items, including pharmaceuticals, music and movies (http://bit.ly/cQQ7a8), which would be subject to not only tariffs but also suspension of patents and intellectual property (IP) rights (http://bit.ly/cLNimL). Without concessions from the U.S., the higher tariffs on the original 102 targets are set to go into effect April 7.
Monday, March 15, 2010
Speed Dating for Customers
The Commerce Dept. wants to make you a match
Last Thursday, Commerce Sec. Gary Locke took questions during a live webcast about the administration’s National Export Initiative (NEI) to double U.S. exports in the next five years. (You can watch the webcast at http://trade.gov/.)
American products are highly valued and in great demand abroad, Locke says. “We simply need to match up those American companies, especially the small and medium-size companies who don’t have a huge marketing department, to help them find the customers and buyers for those American-made products and services.”
Locke describes the work of his Dept.’s foreign commercial service officers and trade specialists in over 130 cities around the world: “Their sole job is to find customers and buyers for U.S. companies. It’s almost like speed dating. There are various programs where, for instance, our people will actually look up potential customers, arrange for them to come to one location, and you as a company owner would go, let’s say, to Budapest, Hungary, sit down in a room at the consulate, and we will bring, let’s say, eight or nine of those potential buyers or customers to you every half hour on the half hour, and you conduct the interviews.”
He’s talking about programs, starting with the Gold Key Program, that have been around for a while, as he acknowledges, but they haven’t been publicized enough. “Not enough people know of our services. And so that’s why we have a toll-free hotline to connect up with people … and we have people here in the U.S. that will sit down, talk with that American company, find out what their strengths, expertise is, and then connect them with potential markets around the world.”
We're happy to help by publicizing the hotline: 1-800-USA-trad(e). Can anyone who's called the hotline tell us what happened next?
Last Thursday, Commerce Sec. Gary Locke took questions during a live webcast about the administration’s National Export Initiative (NEI) to double U.S. exports in the next five years. (You can watch the webcast at http://trade.gov/.)
American products are highly valued and in great demand abroad, Locke says. “We simply need to match up those American companies, especially the small and medium-size companies who don’t have a huge marketing department, to help them find the customers and buyers for those American-made products and services.”
Locke describes the work of his Dept.’s foreign commercial service officers and trade specialists in over 130 cities around the world: “Their sole job is to find customers and buyers for U.S. companies. It’s almost like speed dating. There are various programs where, for instance, our people will actually look up potential customers, arrange for them to come to one location, and you as a company owner would go, let’s say, to Budapest, Hungary, sit down in a room at the consulate, and we will bring, let’s say, eight or nine of those potential buyers or customers to you every half hour on the half hour, and you conduct the interviews.”
He’s talking about programs, starting with the Gold Key Program, that have been around for a while, as he acknowledges, but they haven’t been publicized enough. “Not enough people know of our services. And so that’s why we have a toll-free hotline to connect up with people … and we have people here in the U.S. that will sit down, talk with that American company, find out what their strengths, expertise is, and then connect them with potential markets around the world.”
We're happy to help by publicizing the hotline: 1-800-USA-trad(e). Can anyone who's called the hotline tell us what happened next?
Brazil’s Retaliatory Tariffs
After 8 years, 30 days to sanctions
With the approval of the World Trade Organization, Brazil is set to impose tariffs on a range of U.S. products and commodities in retaliation for U.S. government subsidies to American cotton growers.
The trade dispute started in 2002 when Brazil went to the WTO with its complaint against the U.S. subsidies and their impact on Brazilian cotton. The WTO sided with Brazil in 2004 and its decision was upheld on appeal in 2005. In 2006, the U.S. agreed to comply with WTO recommendations; but a 2007 WTO review found the U.S. had fallen short on compliance. A 2008 WTO arbitration panel set the parameters for retaliatory action. (This synopsis is based on a policy statement from U.S. Wheat Associates, a trade group anxious to increase U.S. wheat’s share of the Brazilian market.)
On March 3, Brazilian Foreign Minister Celso Amorim, said the U.S. had 30 days to negotiate a bilateral agreement with Brazil to avoid the new tariffs. On March 8, Brazil published the list of 102 import products on which it intends to levy tariff increases. You can see the complete list here: http://www.bit.ly/bI5OZp. The product descriptions are in Portuguese, but the tariff codes and percentages don’t need translation. Top U.S. import crude oil (see The Datamyne Top 5 Brazil’s U.S. Imports) is not on the list, but #2 passenger motor vehicles is.
With the approval of the World Trade Organization, Brazil is set to impose tariffs on a range of U.S. products and commodities in retaliation for U.S. government subsidies to American cotton growers.
The trade dispute started in 2002 when Brazil went to the WTO with its complaint against the U.S. subsidies and their impact on Brazilian cotton. The WTO sided with Brazil in 2004 and its decision was upheld on appeal in 2005. In 2006, the U.S. agreed to comply with WTO recommendations; but a 2007 WTO review found the U.S. had fallen short on compliance. A 2008 WTO arbitration panel set the parameters for retaliatory action. (This synopsis is based on a policy statement from U.S. Wheat Associates, a trade group anxious to increase U.S. wheat’s share of the Brazilian market.)
On March 3, Brazilian Foreign Minister Celso Amorim, said the U.S. had 30 days to negotiate a bilateral agreement with Brazil to avoid the new tariffs. On March 8, Brazil published the list of 102 import products on which it intends to levy tariff increases. You can see the complete list here: http://www.bit.ly/bI5OZp. The product descriptions are in Portuguese, but the tariff codes and percentages don’t need translation. Top U.S. import crude oil (see The Datamyne Top 5 Brazil’s U.S. Imports) is not on the list, but #2 passenger motor vehicles is.
Monday, March 8, 2010
Friday, March 5, 2010
Cockeyed Optimism
The surge in imports may be a triumph of hope over reality.
By Bill Armbruster
Have U.S. importers been too optimistic about growth prospects in the U.S. this year?
I think so — and I think that helps explain why there such was a mad scramble for container space out of China in January and the first half of February. Sure, importers wanted to get their goods on the water before factories shut down for a week or two during the Chinese New Year, which began Feb. 14. But there’s always a rush before Chinese New Year. This year’s frenzy was unprecedented.
The chaos was largely due to carriers’ cutbacks in capacity, as I discussed in my last blog entry. In fairness to the carriers, they were caught off guard by the surge in demand. Part of the reason for that surge was the need for importers to replenish inventories. Merchandise was flying off their shelves, so it was natural to feel that they had to step up their orders.
A Bureau of Economic Analysis report showing that personal spending in January was up 0.5% over December — seems to add ground for that sense of optimism. However, that same report shows that disposable personal income – what’s left after taxes — was down 0.4% in January.
Another disappointing indicator was February’s sharp decline in consumer confidence. After rising for three straight months, the Conference Board Consumer Confidence Index dropped to 46.0, down from 56.5 in January.
Meanwhile, the housing market isn’t looking any better. Existing-home sales fell in January, and the market could be in for a rough ride once the home buyer tax credits end on April 30, according to the National Association of Realtors. Housing is a major driver of the import market because people tend to buy more home furnishings when they are moving into a new home. In addition, no meaningful recovery in commercial real estate is expected before 2011.
Most analysts are forecasting 8 to 10% increases in import containers this year, although the Port Tracker report for February, prepared by Hackett Associates and the National Retail Federation, projected that retail container imports would be up 25% in the first half of 2010. Look for that projection to come down to about 15% in this month’s Port Tracker, but it still seems wildly incongruous with the NRF’s forecast that retail sales will grow just 2.5 percent this year.
As for the data on container trade, The Datamyne’s figures show just a 2.8% increase in arrivals of container imports from China in January. Final figures for February will not be available until March 15, but preliminary figures show an increase of about 12 to 13%. I would not be surprised if it’s even higher. Watch this space for the final tally.
I’ve let you know what I think, but what do you think about the container market this year? Please post your comments below.
About Bill Armbruster
Bill Armbruster, the anchor for The Datamyne Blog has covered shipping and trade for 30 years as a reporter and editor with The Journal of Commerce and Shipping Digest. “I’ll be blogging on headline news and current issues in oceangoing commerce, trying to shed some light on the backstories and, wherever I can, supply some sound advice for shippers.” Write to Bill@TheDatamyne.com
By Bill Armbruster
Have U.S. importers been too optimistic about growth prospects in the U.S. this year?
I think so — and I think that helps explain why there such was a mad scramble for container space out of China in January and the first half of February. Sure, importers wanted to get their goods on the water before factories shut down for a week or two during the Chinese New Year, which began Feb. 14. But there’s always a rush before Chinese New Year. This year’s frenzy was unprecedented.
The chaos was largely due to carriers’ cutbacks in capacity, as I discussed in my last blog entry. In fairness to the carriers, they were caught off guard by the surge in demand. Part of the reason for that surge was the need for importers to replenish inventories. Merchandise was flying off their shelves, so it was natural to feel that they had to step up their orders.
A Bureau of Economic Analysis report showing that personal spending in January was up 0.5% over December — seems to add ground for that sense of optimism. However, that same report shows that disposable personal income – what’s left after taxes — was down 0.4% in January.
Another disappointing indicator was February’s sharp decline in consumer confidence. After rising for three straight months, the Conference Board Consumer Confidence Index dropped to 46.0, down from 56.5 in January.
Meanwhile, the housing market isn’t looking any better. Existing-home sales fell in January, and the market could be in for a rough ride once the home buyer tax credits end on April 30, according to the National Association of Realtors. Housing is a major driver of the import market because people tend to buy more home furnishings when they are moving into a new home. In addition, no meaningful recovery in commercial real estate is expected before 2011.
Most analysts are forecasting 8 to 10% increases in import containers this year, although the Port Tracker report for February, prepared by Hackett Associates and the National Retail Federation, projected that retail container imports would be up 25% in the first half of 2010. Look for that projection to come down to about 15% in this month’s Port Tracker, but it still seems wildly incongruous with the NRF’s forecast that retail sales will grow just 2.5 percent this year.
As for the data on container trade, The Datamyne’s figures show just a 2.8% increase in arrivals of container imports from China in January. Final figures for February will not be available until March 15, but preliminary figures show an increase of about 12 to 13%. I would not be surprised if it’s even higher. Watch this space for the final tally.
I’ve let you know what I think, but what do you think about the container market this year? Please post your comments below.
About Bill Armbruster
Bill Armbruster, the anchor for The Datamyne Blog has covered shipping and trade for 30 years as a reporter and editor with The Journal of Commerce and Shipping Digest. “I’ll be blogging on headline news and current issues in oceangoing commerce, trying to shed some light on the backstories and, wherever I can, supply some sound advice for shippers.” Write to Bill@TheDatamyne.comThe Day the Earth Got Knocked off Its Axis …
… in other news, trade in wine, fish, fruit is disrupted
The Chilean earthquake may have shifted the Earth’s axis by 3 inches and shortened the length of an earth day by about 1.26 microsecond NASA calculates. It has most certainly caused hundreds of casualties and at least $US30 billion in damages.
Now add to the toll the disruption of Chile’s export sectors.
As the AP reports (here, in the Miami Herald), the tsunami that hit Talcahuano wiped out that port city’s $40-million business in anchovies and sardines. The quake chewed up the nation’s only north-south highway, halting shipment of farm-raised salmon. According to The Datamyne’s trade data, Chilean exports of fish (fresh and frozen) and fish products were valued (FOB) at more than US$1.1 billion in 2009.
The Maule region, most affected by the quake, is the heart of Chile’s wine growing region. Chile’s biggest winemaker, Concha y Toro, said Monday that it would be halting production for at least a week.
All told, Chile exported approximately US$50 billion in 2009, with the U.S., its second-biggest market, buying US$5.6 billion worth of goods and commodities.
Not all the news is bad: Chile’s copper mining and refining operations, concentrated well north of the quake epicenter, were relatively unscathed. Key ports of departure for Chile’s top export, Antofagasta and Mejillones, were back in operation within hours.
The Datamyne Chilean database provides comprehensive information about the nation’s import-export trade — including bill of lading details about transactions. The Datamyne’s data assets can also be used to locate alternate sources of supply in the Americas, Asia and Europe. To learn more, click here.
The Chilean earthquake may have shifted the Earth’s axis by 3 inches and shortened the length of an earth day by about 1.26 microsecond NASA calculates. It has most certainly caused hundreds of casualties and at least $US30 billion in damages.
Now add to the toll the disruption of Chile’s export sectors.
As the AP reports (here, in the Miami Herald), the tsunami that hit Talcahuano wiped out that port city’s $40-million business in anchovies and sardines. The quake chewed up the nation’s only north-south highway, halting shipment of farm-raised salmon. According to The Datamyne’s trade data, Chilean exports of fish (fresh and frozen) and fish products were valued (FOB) at more than US$1.1 billion in 2009.
The Maule region, most affected by the quake, is the heart of Chile’s wine growing region. Chile’s biggest winemaker, Concha y Toro, said Monday that it would be halting production for at least a week.
All told, Chile exported approximately US$50 billion in 2009, with the U.S., its second-biggest market, buying US$5.6 billion worth of goods and commodities.
Not all the news is bad: Chile’s copper mining and refining operations, concentrated well north of the quake epicenter, were relatively unscathed. Key ports of departure for Chile’s top export, Antofagasta and Mejillones, were back in operation within hours.
The Datamyne Chilean database provides comprehensive information about the nation’s import-export trade — including bill of lading details about transactions. The Datamyne’s data assets can also be used to locate alternate sources of supply in the Americas, Asia and Europe. To learn more, click here.
The Datamyne In the News
The March cover story in American Shipper (subscription only) on “The Resilient NVO” features data and analysis from The Datamyne, including the top 100 non-vessel operating common carriers on Asia-to-U.S. and Europe-to-U.S. trade lanes based on TEU volumes, 2008-2009, as well as market share charts for the top 10 in both directions — Asia to U.S. is shown here.
Monday, March 1, 2010
Low Expectations
U.S. consumers are pessimistic; confidence is back in Asia, Brazil
The Conference Board Consumer Confidence Index (released Feb. 23, based on a survey of 5,000 U.S. households through Feb. 17) now stands at 46.0 (1985=100), down from a relatively optimistic 56.5 in January. The closely watched indicator, based on a monthly survey by TNS, echoes other measures of the American consumer’s readiness and/or willingness to spend. The Reuters/University of Michigan Surveys of Consumers on Feb. 12 reported its preliminary index of consumer sentiment for February was 73.7, down from 74.4 in late January (but up from 56.3 a year ago).
Is the pessimism universal? The latest Nielsen Global Consumer Confidence Index shows the consumers of Latin America (at 98 on a scale of 0 to 200) and Asia/Pacific (at 91) well ahead of their counterparts in North America (84) and Europe (77) when it comes to confidence, with the biggest gains in the markets recovering fastest from recession — including Hong Kong, China, Singapore, India, and Brazil. [Note: The Datamyne covers China, India and Brazil.]
But post-holiday second-thoughts about what lies ahead can dampen spirits in even the strongest markets. The Getulio Vargas Foundation (Fundação Getulio Vargas), which saw a boost in its Brazilian Consumer Confidence Index in January to 113, now reports [in Portuguese] slippage of 2.2 point in February. The current 110 is still well above the historical average of 107.
The Conference Board Consumer Confidence Index (released Feb. 23, based on a survey of 5,000 U.S. households through Feb. 17) now stands at 46.0 (1985=100), down from a relatively optimistic 56.5 in January. The closely watched indicator, based on a monthly survey by TNS, echoes other measures of the American consumer’s readiness and/or willingness to spend. The Reuters/University of Michigan Surveys of Consumers on Feb. 12 reported its preliminary index of consumer sentiment for February was 73.7, down from 74.4 in late January (but up from 56.3 a year ago).
Is the pessimism universal? The latest Nielsen Global Consumer Confidence Index shows the consumers of Latin America (at 98 on a scale of 0 to 200) and Asia/Pacific (at 91) well ahead of their counterparts in North America (84) and Europe (77) when it comes to confidence, with the biggest gains in the markets recovering fastest from recession — including Hong Kong, China, Singapore, India, and Brazil. [Note: The Datamyne covers China, India and Brazil.]
But post-holiday second-thoughts about what lies ahead can dampen spirits in even the strongest markets. The Getulio Vargas Foundation (Fundação Getulio Vargas), which saw a boost in its Brazilian Consumer Confidence Index in January to 113, now reports [in Portuguese] slippage of 2.2 point in February. The current 110 is still well above the historical average of 107.
OJ on Ice
A January cold snap spikes the price of citrus
Latest assessments from the U.S. Department of Agriculture put the loss to Florida citrus growers from January’s cold snap at 7.4 million boxes of fruit at minimum — this on top of a harvest forecast that was already 20% off peak. Bad news for consumers but, as The Ledger of Lakeland, Fla., reports, by forcing prices up the freeze-related losses may have turned a money-losing 2009-10 season into a profitable one for growers, especially in groves that escaped significant damages.
For produce wholesalers and distributors who want to protect profit margins, one option is to look for alternative sources in California or Texas (also affected by the cold snap, although with more damage to onions than citrus) — or further afield. The Datamyne can help here: our bill of lading database yields current information on who’s shipping citrus now; and our international databases include the top countries for U.S. citrus imports, Mexico, Spain and Chile. To learn more about using The Datamyne to find new sources or new customers, contact us.
Update: On February 27, Chile was struck by an 8.8 earthquake. Aftershocks continue to hamper rescue and recovery. Go to http://www.google.com/relief/chileearthquake/ if you are looking for or have information about someone in Chile—or want to contribute to relief efforts.
Latest assessments from the U.S. Department of Agriculture put the loss to Florida citrus growers from January’s cold snap at 7.4 million boxes of fruit at minimum — this on top of a harvest forecast that was already 20% off peak. Bad news for consumers but, as The Ledger of Lakeland, Fla., reports, by forcing prices up the freeze-related losses may have turned a money-losing 2009-10 season into a profitable one for growers, especially in groves that escaped significant damages.
For produce wholesalers and distributors who want to protect profit margins, one option is to look for alternative sources in California or Texas (also affected by the cold snap, although with more damage to onions than citrus) — or further afield. The Datamyne can help here: our bill of lading database yields current information on who’s shipping citrus now; and our international databases include the top countries for U.S. citrus imports, Mexico, Spain and Chile. To learn more about using The Datamyne to find new sources or new customers, contact us.
Update: On February 27, Chile was struck by an 8.8 earthquake. Aftershocks continue to hamper rescue and recovery. Go to http://www.google.com/relief/chileearthquake/ if you are looking for or have information about someone in Chile—or want to contribute to relief efforts.
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