Weak dollar, gains in beef and pork shipments spurred growth last month
The Port of Oakland yesterday reported that containerized export volume in January increased 2.1 percent from the same month a year ago. It was the second consecutive month of export growth at the Port.
The increase follows a 1.8 percent decline in Oakland exports during 2017. The Port said a weakening dollar contributed to the January increase. American products are more affordable overseas when the dollar’s value declines.
The Port said exports of refrigerated commodities climbed in January. Pork exports jumped 20 percent last month when compared to January 2017. Beef shipments were up 18 percent.
The Port is currently constructing Cool Port, a 283,000-square-foot refrigerated distribution center to bring more U.S. meat products to Asia. The facility is scheduled to open in August.
“The Port of Oakland and its maritime partners have made key investments to increase refrigerated exports,” said Port of Oakland Maritime Director John Driscoll. “We expect volumes to increase as we open our new facilities.”
The Port of Oakland reported a 4.3 percent increase in overall container volumes last month compared to January 2017. That was due largely to the increase in empty containers.
Source: Port of Oakland