A Message from Our CEO

To our customers,

The new year has brought with it a new set of challenges related to the global supply chain, but at Roland Foods we are confident in our ability to efficiently and effectively navigate these obstacles.

El Niño conditions continue to disrupt the crop landscape, impacting major categories such as anchovies and artichokes. It is anticipated that we will continue to see El Niño effects throughout the 2024 season.

The ongoing conflict in the Middle East has escalated tensions across the Red Sea. As a result, shipping lines have rerouted around South Africa causing up to 10 days of delay in transit times. This detour has caused a ripple effect across the globalized trade network. Spot rates on Asia to US trade lanes have more than doubled in recent weeks, and rate increases are starting to spread to European trade lanes. Rates are expected to stabilize but remain elevated through Chinese New Year into early Spring before starting to retreat. However, 2024 ocean rates are projected to be higher than 2023 as a result of the Suez and Panama Canal challenges.

At Roland Foods, our priority remains our customers. Below are actions we are taking to ensure customer satisfaction:

1. A Trusted Network of Global Partners – We will continue to remain in constant contact with our extensive network of suppliers to secure supply for our customers.

2. A Close Eye on Shipping Lines – Our internal teams are continuously monitoring the effects of the growing tensions in the Middle East. Their dedication and tireless commitment have positioned us to minimize disruption.

To stay abreast of the most up-to-date and in-depth details regarding the supply chain, freight, and crop updates, please read our Market Updates provided below.

Sincerely,

Keith Dougherty

CEO of Roland Foods