India’s airfreight rates have seen measurable corrections over the last month due to a decline in the country’s export market and an increase in its capacity.
The end of the traditional perishable season is another factor contributing to the rates declining, reports The Load Star.
Director of air and sea freight at Jet Freight Logistics, Jay John, notes that “air cargo rates from India are currently trending down due to the global demand slowdown”.
Average rates from India to the US are currently at US$5.35 (R90) per kilogram, compared to US$6.50 (R110) a month ago. For Europe, rates from India have dropped from US$3.50 (R59) per kilogram to US$2.50 (R42).
Airfreight rates for Indian-inbound cargo have remained relatively stable.
It is expected that export rates will start rising again from September when peak demand sets in ahead of the holiday season.
