March 05, 2025 | Industry News
March 2025 Regional Market Report News
Crop Updates
Pineapples
Widespread heat across key pineapple-growing regions, driven by the lingering effects of El Niño, is affecting major producers, including Indonesia, Thailand, Vietnam, and the Philippines. These countries, among the world's largest sources of pineapples, are experiencing challenging growing conditions that could impact crop yields and availability.
Hearts of Palm
Heavy droughts and excessive rainfall have resulted in a poor raw material harvest for wild hearts of palm in Ecuador. While suppliers continue to ship product, quantities are smaller than expected. The issue is projected to persist through the second half of 2025, potentially impacting availability.
Global Supply Chain and Logistics Updates
TEU Imports Soar
Imports continue to surge at near-record levels as shippers accelerate inventory movement ahead of impending tariffs. In January 2025, total TEU imports were estimated at 2.4 million, marking the strongest January on record. This influx is expected to persist through February and March, leading to longer delays and congestion at high-volume ports and terminals, though conditions remain manageable.
Incoming and Imposed Tariff Update
Starting March 4, imports from Mexico and Canada will face a 25% tariff, following a delay from the originally scheduled February 3 implementation. Meanwhile, on March 12, a 25% duty will be imposed on steel and aluminum imports from all countries, broadening the scope of trade measures. Additionally, after the 10% tariff increase on all Chinese goods introduced in February, another 10% hike will take effect on March 4, further raising costs on imports from China.