June 03, 2024 | Industry News

June 2024 Regional Market Report News

Crop Updates


Despite the growing concern of a sriracha shortage, we are stocked and prepared to meet your needs at Roland Foods. We have worked diligently with our international suppliers to secure an ample inventory of our authentic and premium sriracha products. Additionally, we are fully stocked on our other Asian chili sauces including sambal oelek.


Lychee yields from China are forecasted to experience a reduction of approximately 40% compared to the previous year's output, primarily attributable to inclement weather in the region. Similarly, the output from Vietnam has witnessed a significant decline, with estimates indicating a reduction to about 10% of last year's yield. While efforts will be made to procure the necessary inventory, available supplies are anticipated to come at a higher cost premium.


The anchovy outlook remains optimistic as fishing continues to improve out of Peru. We will continue to monitor the status in Latin America as the category recovers.

Global Supply Chain and Logistics Updates

Smooth Sailing for U.S. Container Imports

The robust performance of the U.S. economy continues to surpass expectations, as shown by a notable surge in containerized imports. Year over year, container imports have risen by almost 10%, driven by resilient consumer spending and heightened demand from importers. As we anticipate entering the "peak" shipping season, import levels are expected to escalate even further.

The shipping market has also demonstrated remarkable strength, leading to a tightening of vessel space that is projected to persist throughout the summer. In response to this favorable market condition, ocean carriers have implemented rate hikes to maximize profitability, and they are prepared to employ various strategies to sustain elevated rates.

An Update on Canal Operations

Favorable weather conditions have enabled the Panama Canal to alleviate previously imposed restrictions. Over the coming weeks, vessel crossings are anticipated to increase from 24 to 32 per day, approaching levels seen before the period of drought.

Meanwhile, the Suez Canal remains largely unused by most ocean carriers, with no immediate plans for its reinstatement in sight. However, shipping lines have successfully adapted to these changes, adjusting their routes accordingly. Notably, East Coast ports have not experienced a decline in volume despite these alterations