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Cargo theft average value up 38.2%: FreightWatch

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The average loss in cargo thefts increased more than one-third during this year’s first quarter vs. the comparable period a year ago, indicating criminals’ “persistence and increasing sophistication,” FreightWatch international (USA) Inc. said in its latest report.

The average loss per incident during the quarter was $207,982, a 38.2% increase from 2013’s first quarter, although the number of full-truckload cargo thefts decreased 4% to 206, Austin, Texas-based FreightWatch said in its report.

The food and drinks category again was the product type stolen most often stolen during the first quarter, accounting for 44 thefts or 21% of all incidents, according to the report.

Next was home/garden products, which accounted for 31 thefts or 15% of the total, and electronics thefts, which accounted for 27 thefts or 13% of the total.

California again was the top spot among states, accounting for 56 thefts or 27% of the total; followed by Florida, with 42 thefts or 20% of the total; Georgia, 23 thefts or 11.2% of the total; and Texas, with 23 thefts or 10.7% of the total.

California was also the most frequently targeted state in 2013.

The report found that the theft of trailers and containers accounted for 176 incidents, or 85% of all thefts.