Unprecedented Spot Premiums
PANAMA - Mar 25/16 - SNS -- International lentil markets remained at historic high levels during the past week on spot markets, resulting in unprecedented spreads between spot and new crop values.
The situation is most obvious in grower markets. Spot market bids for No 2 grade large green lentils are U.S. $600 per metric ton (MT) more than for shipment in August or September.
These are clear signals to farmers to sell any product remaining in their bins before the end of the marketing year. But, holding has been handsomely rewarded, with spot grower bids rising 16% since the start of the calendar year.
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