Mid-Autumn Festival to boost demand
Speculators have once again driven up prices by issuing an offer of RMB 20/kg for shine skins. They still hold around 35,000-37,000 mt of last year's crop in their warehouses. Bakeries are also anticipating an upsurge in demand for the Chinese Mid-Autumn Festival in September, for which they now need supplies. Suppliers expect domestic demand to remain high until Chinese New Year at the end of January. This has prompted speculators to try their best to boost the market now before the new crop arrives.
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