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Article: Fuel consumption for shipping grain varies by origin, destination.(Mill Technology)
- Article from:
- Feedstuffs
- Article date:
- August 30, 1999
- Author:
CopyrightCOPYRIGHT 1999 Miller Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When it comes to exporting grain, fuel consumption is a significant cost but can be controlled if the proper calculations are made prior to transport.
During most of 1998 and early 1999, fuel prices in the U.S. and the entire world were at near record laws after adjusting for inflation and fuel quality. Recently, major petroleum-exporting countries announced their intention to reduce world crude oil production by 2 million barren per day. If these exporters are successful in holding down crude oil output and if several Asian countries are able to escape from recession, oil prices could begin to rise again. If this happens, grain shippers will need to be more ...