The unstable political situation in Turkey lead to a peak in the USD/TLR rate during the past weeks. Although the depreciation of the TLR triggered some larger buyers to take some cover, local prices remained at more or less stable levels for the last stockholders. While the TLR seems to have recovered itself a bit again, demand seems to have disappeared for the moment as well. Updates from Turkey about the new crop are limited, as the crop is – at least – two weeks behind due to the cold weather of the past weeks. The uncertainty about temperatures for the coming weeks is making the market even more nervous – and reluctant to act – at the moment.
