China partially shuts world’s third largest port after SINGLE covid case, causes global supply fears!
The closed Meishan terminal processes 25% of cargo that passes through the Ningbo-Zhoushan port in eastern China, the world’s third-busiest cargo port.
The closure threatens more disruption to supply chains GLOBALLY, potentially sending commodity prices even higher.
Bloomberg reports Peru is already experiencing delays in some crops trade with China, one of its main economic partners.
“That whole circuit is disrupted when ports are closed due to the pandemic,” Gabriel Amaro, head of Peru’s agriculture industry group Agap told Bloomberg. “What happened at the beginning of the pandemic is repeating.