Shipping costs are biting for Sanford

Tue, 31 Aug 2021

Increased costs and delays shipping frozen seafood products to key markets such as the US and Asia are taking a bite out of Sanford’s bottom line. Total supply chain costs are up $5 million in the 10 months to the end of July versus the same period a year earlier, the company said. The lift is a 17% increase on a cost per tonne basis.Sanford will seek to recover the additional costs through pricing increases, albeit with a lag between the cost increases and pricing recoveries. It also said it would normally expect a seasonal upl...

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