The invasion of Ukraine by Russian troops has had a direct impact on international trade.
We are feeling the immediate effects as shipowners and airlines raise their rates with additional bunker and war risk fees, among others.
Around the world, we can take sea freight rates as an example: according to the Department of Agriculture's Grain Transportation Report of March 17, bulk grain transportation has increased for five consecutive weeks.
On March 10, the transportation rate for a ton of grain from the US Gulf to Japan was US$79, a 12% increase compared to the beginning of 2022, 37% more than a year ago and 70% more than the four-year average.
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