Traders still optimistic
Demand is, in fact, so low that processing facilities have slowed operations and mainly draw on existing stocks. Prices have also declined and presently range at USD 1,260/mt FOB Dalian for hulled millet. Traders, however, reckon that the situation will eventually change. Issue is that the prolonged heatwave has damaged the crop and expectation is that yields will range lower than anticipated. Prices should start to rise in autumn at the latest.