Commodity shipping rates up 600% since start of 2003. What's that do to the cost of imported food?

[JohnWxy]

Freight Costs to Peak in 2008, Baltic's Drayton Says - Bloomberg, December 4, 2007

http://www.bloomberg.com/apps/news?pid=20601109&sid=aYsNUycqlHPc&refer=home


Freight rates for dry-bulk commodities including grain, iron ore and coal have gained this year on demand from India and China, the world's biggest steelmaker and copper user.
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The Baltic Dry Index, the benchmark for commodity shipping rates, more than doubled this year to a record 11,039 on Nov. 13, and rose 600 percent since the start of 2003. China needs iron ore, copper and other commodities to fuel an economy that is growing at more than four times the pace of the U.S. and Europe.