How high will the base price be?
Turkey's Ministry of Agriculture and Forestry has not issued any production estimates so far. Although production should be similar in size to last year, unofficial estimates range far apart at 240,000-300,000 mt. While official production estimates amounted to 271,000 mt last year, registered volumes range 20% higher at 315,000 mt. The market is, however, not only left waiting for the government to issue production estimates but also a base price.
Concerns over TMO's plans
The TMO purchased around 60