Traders need to sell supplies
As domestic and international demand are very much subued the market has come under pressure. Even speculators have been forced to adapt to the situation. A grade shine skin kernels are trading USD 75 lower at USD 3,125/mt CFR EMP and the prices for GWS kernels have slumped by USD 250 to USD 3,320/mt CFR EMP.
Traders and speculators hold the remaining shine skin supplies, which are estimated at 20,000-25,000 mt. This explains why shine skin prices have not slipped quite as much. Demand has been weak in recent weeks and suppliers