The United Nations Conference on Trade and Development (UNCTAD) has warned of the risks of higher inflation, uncertainty of food security and increased greenhouse gas emissions due to the drop in freight going through the Suez Canal.
According to UNCTAD, freight through the canal has fallen by 45% in the two months since Yemen’s Houthi attacks led shipping groups to divert freight, disrupting already strained maritime trading routes.
The agency said 39% fewer ships transited the canal, leading to a 45% decline in freight tonnage.
