The Turkish market remained silent during the last couple of days, while waiting for the TMO to start their purchasing campaign today. Next to unpredictable currency fluctuations has the Turkish government proven itself again to be unpredictable as well, by announcing last week that they will intrude in the market. The buying prices as announced by them were at TL 14,- per kg for Levant and TL 14,50 per kg for the Giresun origin material. This move has improved the position of alternative origins, it remains to be seen whether they will use this situation to increase their own prices as well, or focus on moving more quantities being more competitive to Turkey now. Over time, EU prices increased quite a bit due to the improving TL currency. With this new information in mind, further coverage can be considered, especially when putting the current prices into a historical perspective.
