PANAMA - Jun 18/21 - SNS -- Spot markets for lentils continued to ease during the past week as more buyers resist paying old crop premiums because of the rapid approach of the harvest in the United States and Canada.
Demand for product for immediate shipment is also being affected by ongoing logistical problems and steep increases in ocean freight rates. Given difficulties guaranteeing shipments arrive quickly, some buyers have switched their emphasis to new crop shipping positions.
On the other hand, uncertainty over future ocean freight rates has made exporters cautious about selling unless contracts contain clauses which allow them to pass future freight rate increases to buyers.
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