| The current market is characterised by continued short supply on spot, with limited availability at origin. The majority of demand has already been covered or is expected to be delisted, leading to reduced short-term buying interest. While spot prices remain relatively high, shippers at origin are gradually lowering their pricing in an effort to sell off remaining stock ahead of the new crop. Earlier depreciation of the Boliviano contributed to pricing adjustments, though it’s worth noting that currency valuation has stabilised over the past two weeks Logistical challenges are intensifying, with lockdowns and roadblocks reported due to growing political unrest. This unrest is linked to up and coming names appearing on election ballots, which has disrupted movement and added further strain to supply chains. Looking forward, we expect prices at origin to continue declining. However, availability is likely to diminish completely before the arrival of the new crop, potentially creating a tighter market environment in the near term |
