India Logistics - Activity Upbeat In October, Driven By Festive Demand: Motilal Oswal
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Motilal Oswal Report
The festive season saw a strong inventory build-up, leading to high demand for logistics. This is reflected in the robust jump in e-way bill generation.
October 2021 saw a record high e-way bill generation at 73.5 million (up 8% month-on-month and up 14.5% YoY).
With volumes picking up over the last few months and diesel price increases, freight rates have been heading north.
The festive season-led demand pick-up saw freight rates increase by another 10% in Oct-21, which more than offset the increase in diesel prices.
Capacity utilisation for trucks currently stands at 80-85% levels.
Volumes handled at major ports stood strong at 60 million metric tonne, driven by growth in container traffic and petroleum, oil and lubricants.
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