Consumer durables to become more expensive due to rough seas at night – ..

New Delhi: Due to the increasing tension between Israel and Iran, containers have become 300 percent expensive in the last one month. Due to this, consumer durables companies are facing a shortage of goods and are forced to consider increasing the prices of their products. Companies have decided to increase prices, but some of them have not yet decided how much they should increase to pass on the burden of the rising cost of containers to consumers.
Tensions between Israel and Iran have reduced shipping in the Red Sea, which has also reduced our stock of goods. There is very little stock left compared to the amount of goods being demanded from across China, especially eastern and southern China.
Containers carrying goods have become 150 to 300 percent more expensive due to the mismatch between demand and existing stock. This has made it even more difficult for companies and traders to book cargo. Container fares are rising every week and are likely to rise further as shippers do not know when the problem will be resolved. This is affecting not only Indian companies but the whole world.
Due to increase in container fare, raw material is also getting expensive, so the company is again forced to increase the prices. The situation is similar to what we saw during the pandemic years. Still the prices were continuously increasing and we were forced to increase the prices of the finished product.
Growth seems to be returning in China and growth will be seen in America as well. Currently, there is not enough goods in the world to meet the demand caused by this growth. But at present, the fastest growth is happening in India.