How global bottlenecks are impacting the economy
The shipping crisis and supply chain strains are a big area of concern right now for producers and consumers, and they are not easy to solve. Here is how global bottlenecks are impacting the economy.
Supply chain disruptions are being felt globally and the issues began when the pandemic shut down businesses, forcing a shift in consumer spending habits.
According to AFBF Chief Economist, Dr. Roger Cryan, “All our demand shifted to stuff, and that demand for a lot of stuff clogged up ocean shipping, which we’re still dealing with. That’s created problems at the ports, shortages of containers and our ag exporters have had a hard time moving product back across to Asia and our farmers have had a hard time getting inputs and our equipment manufacturers have had a hard time getting inputs and there’s all kinds of things that are hard to get.”
He calls it an unfortunate situation, that the problems may end up being long-term.