News Snapshot:
Food suppliers have warned that consumers could face higher prices for imported goods as air and sea freight costs rose heavily last year under Hong Kong’s stringent travel restrictions. Several importers told the Post that air freight costs had already climbed up to 80 per cent in 2021 from the previous year, while sea freight had also jumped between 50 and 100 per cent, resulting in cash flow problems for operators. Hong Kong imported a total of HK$166.6 billion (US$21.39 billion) worth of foodstuff in 2020, according to government data, which represented about 3.9 per cent of total imports. Michelangelo...
