The increase is due to the relocation of plants in the country
In Mexico City, the cost of shipping goods by container from China to Mexico has increased by 83 percent in the past year, and elevated prices are expected to persist at least until September, according to data provided by TM Logix.
This increase is attributed to plant relocation in Mexico and other factors in the international context, as explained by Mario Veraldo, the company’s CEO.
In May 2023, the cost of transporting a 40-foot container from Asia to Mexico was up to $2,950, while for the same month in 2024, it has risen to $5,400.
Plant relocation has generated growing interest from Chinese companies in doing business in Mexico, leading established companies to expand their production and require more imports from Asia.
Moreover, many companies planning to open plants in Mexico need machinery and pilot products acquired in China, contributing to the increase in traffic between both countries.
The exchange rate factor has also influenced this phenomenon. Given the current favorable exchange rate, many companies are advancing their purchases to import goods now and maintain inventories in Mexico.
The importation by US companies is also impacting the market, as they are running out of inventories, and shipping companies often prioritize routes from China to the United States due to the high volume of trade between the two countries.
Recent attacks on ships in the Red Sea are also contributing to the rising costs, as they delay container flow and reduce availability, causing uncertainty in supply chains.
