Middle East conflict drives surge in shipping costs, disrupting Singapore brands

Rising freight rates and material costs, fueled by the ongoing Middle East conflict, are squeezing profit margins for export-driven Singaporean businesses. Key resources like petroleum-based plastics have seen price hikes of up to 60% in the past month, while shipping delays further disrupt supply chains, hindering overseas expansion plans. Local brands like The Kettle Gourmet, which produces gourmet popcorn, are struggling to balance higher operational costs with limited government grant suppor