The increase in oil prices and the possible reimposition of lockdown measures could affect the performance of the logistics sector next year, according to the top official of a local logistics company.
“Escalating fuel prices, unpredictable mobility restrictions, disruptions in the manufacturing sector and volatile demand will have a direct impact on logistics growth going into the early months of 2022,” Jay Capino, president of Kerry Logistikus Inc., told the BusinessMirror in an email interview
Capino said 2021 was “a very challenging year” due to the two Covid-19 surges that reduced demand. However, he said Kerry Logistikus realized in 2020 that it was capable of pivoting to certain industries that benefited during the lockdowns.
One growth driver for the company, he said, is the provision of services to vital sectors, such as the electronics and appliances sector, automotive and transport sectors in Visayas and Mindanao.