USDA Releases Report on Truck Shortage, Record High Rates
Minnesota Ag Connection - 04/16/2018
As potato shippers in the Red River Valley know all too well, trucks are hard to come by and very expensive. The inability to find timely transportation has cost fresh shippers in the Red River Valley millions of dollars, not only in lost sales but dropping prices
and higher shrink as the supply of potatoes backs up in storage, notes the Northern Plains Potato Growers Association.
Over the last several years, the combination of overall economic growth and ongoing driver shortages has contributed to diminishing capacity in the trucking industry. This situation peaked at the end of 2017 and beginning of 2018, as additional factors
contributed to record high truck rates and widespread shortages across the trucking industry, the Association told its members.
Spot rates for some refrigerated trucks reached 40-year highs, as reported by USDA's Specialty Crops Market News division.
The 31-page report provides background and context to shed light on the various factors contributing to these record high rates and the driver shortage. To access the entire report, go to https://bit.ly/2JJwWZA.