RIO DE JANEIRO, BRAZIL - Brazil’s economy is suffering due to the coronavirus pandemic, causing a 40 percent slide in its currency, the Real. That spurred a flood of exports of now-cheaper goods, but imports have dropped sharply, causing the imbalance in shipping containers that has led to delays.
That’s a direct hit to Brazil, which, with 30 percent of the global coffee trade, is the world’s largest exporter of the commodity.
According to shipping industry consultancy Datamar, there was an imbalance of nearly 80,000 boxes in Brazil in August, with around 251,000 containers leaving . . .
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