STAT Communications Ag Market News

Defaults Add to Bullish Tone

PANAMA - May 28/17 - SNS -- Chickpea markets maintained their firm tone through the past week, helped by defaults by exporters in some countries on lower priced contracts.

"They are not answering their phones," quipped a buyer who says exporters in both Russia and India are defaulting on lower priced sales.

Supplier defaults are a double edged sword. While forcing buyers to re-enter markets to cover their needs, they increase marketable stocks.

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