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Cathay Pacific cargo flight suspension set to hit Hong Kong consumers hard with industry players warning food shipping costs could rise 30 per cent
- Logistics trade body chief says it is inevitable consumers will bear the brunt of food and product shortages, especially seafood and vegetables, over the next few weeks
- Shipping cost will go up 20-30 per cent and increases will be passed on to Hong Kong consumers, he warns
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Hong Kong consumers will have to pay more for fresh produce, daily necessities and electrical goods over the next few weeks as shipping costs are expected to soar by up to 30 per cent due to Cathay Pacific’s suspension of long-haul cargo flights, industry players have warned.
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Gary Lau Ho-yin, chairman of the Hong Kong Association of Freight Forwarding and Logistics, on Friday said it was inevitable consumers would bear the brunt of food and product shortages, especially seafood and vegetables.
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“Hongkongers will feel the impact over the next two to three weeks about the shortage of food, especially fresh produce and frozen food, and other electrical products and daily necessities,” he said.
“The shipping cost will go up by 20-30 per cent during the period and the rising costs will definitely be passed on to Hong Kong consumers.”
At present air freight costs about HK$100 per kilogram (US$5.80 per pound) of goods.
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Lau’s warning came after Cathay announced on Thursday it was suspending all long-haul cargo and cargo-only passenger flights with immediate effect for a week in another blow to an already strained global supply chain.
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