Food and beverage cargo coming into ports and warehouses is being stolen at an alarming rate with criminal activity spreading to inland cities.
Food and beverage coming into port or in a warehouse is No. 1 on the list of products being targeted by freight thieves who are increasing their criminal activity across the national supply chain. It's a sign of the economic times, and adding further pressure to the high prices faced by consumers during an elevated inflation environment.
While household goods and electronics are still high on the list of cargo thieves, "Now, we're starting to see food and beverage commodities pull up front," Cornell said.According to CargoNet's latest theft report through February, there was an almost 50% increase year over year in beverage and food cargo theft. January had also posted a 50% increase in this theft category. The average value of the theft is $214,0000 per load.
Cities that are seeing a spike in freight theft include Los Angeles, Houston, Miami, Savannah, Newark, New Jersey, Memphis and Chicago.Most notable, he said, was the increased activity far from top targets like Los Angeles. "A lot of times, they will get away with it," Cornell said. Coming into 2023, there was a 600% annual increase in this type of theft, CargoNet reported, and that trend has continued through January and February.As the logistics industry moves more data to electronic systems, thieves will have more opportunities to steal cargo if freight owners and logistics providers are not careful.
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