News

Mixed outlook for the 2023 ag supply chain

Agriculture supply chain challenges may soften in 2023.

Ken Eriksen works in the commodity insights division of S&P Global. He tells Brownfield a slow-down in the economy is naturally bringing some supply chain issues into balance.

“For example, we saw record profits for container steamship lines and with those profit they went our and built ships. Those ships are coming online and we will have a case of too much capacity chasing too little cargo in the world and things wont be quite as bunched up.”

But he says there are still challenges to work though including the labor shortage.

“They won’t be able to build a lot of barges because they don’t have as many builders now and the cost of steel is still very high and that will create some challenges.”

He says looking forward, the key will be improving infrastructure to better prepare for supply chain disruptors like the COVID-19 pandemic.   

Brownfield interviewed Eriksen during the 2023 Grain and Feed Association of Illinois Convention in Peoria.

Interview with Ken Eriksen

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!