The shortage of industrial commodities in the global market is likely to last until 2024. Supply chains that have been disrupted due to the coronavirus pandemic will recover slowly, experts estimate.
“We hope to see a gradual reduction in supply chain shortages and hiccups in the second half of this year. But I don’t think we’ll get back to normal until 2024,” Kellogg Group Chief Executive Steve Cahillane told Reuters.
In a similar vein, other experts and businessmen who are still feeling the impact of the coronavirus pandemic on the international trading system are expressing themselves. According to representatives of the German shipping company Hapag Lloyd, while there are some signs of easing tensions, the question is “how long it will take to return to reliable delivery schemes usual before the pandemic.”
A little more optimistic is reportedly the situation in the chip market, the lack of which suffocated the automotive industry throughout last year. “Capacity is slowly coming back and the shortage will ease in the second half of the year,” Mercedes-Benz CFO Harald Wilhelm said at a press conference on Friday. According to him, there is no longer such an increase in the price of materials as last year.
