The liquidity in the private market is at very thin levels, keeping the market tight.
The small quantities available are priced according to the offers of the TMO, pushing the market upwards. So far prices remained relatively stable in terms of exports, as the price increase in TLR is corrected by a weaker USD/TLR rate at the moment. The gap between Giresun, mainly offered by TMO, and the Levant variety, still available on the private market, is becoming smaller as well. In addition to the low availability are offers driven by rumours the speculations of the coming crop, which are differing between the 600.000 and 650.000 MT. mark. A relief is therefore not seen as a logical outcome, making it worth to consider current offers around.
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