Source: www.northbaybusinessjournal.com
California’s wine industry lost more than $250 million in value last summer because of crushing supply chain disruptions at West Coast ports, a new economic report reveals.
A study by UC Davis researchers issued late last year found overall state agricultural exports fell by $2.1 billion from May to September because of difficulties obtaining shipping containers. That’s about a 17% decrease and exceeded losses from the 2018 trade war with China.
Researchers noted that American agriculture products in past years would typically fill more than 40% of all loaded containers leaving California ports and about one-third of those would transport state-grown farm products.
The biggest impact was against California tree nut producers, who were estimated to lose about $520 million in foreign sales during the period.