A fresh plunge on the main global index of the cost of moving major raw materials by sea has potential implications for trade.
The Baltic Dry Index (BDI) slid to a level of 402 on Wednesday, a new low, and this might stop much of trade across the Indian Ocean and Asia-Pacific market, say observers. There could be a strong aversion, for instance, to long-term deals.
The BDI is an economic indicator issued daily by the London-based Baltic Exchange.
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Source Credits: Aditi Divekar in Business Standard