Market Report: November 2017

FX Monthly movement

  • US$/£ 1.31 from 1.33
  • US$/€ 1.17 unchanged
  • £/€ 1.13 unchanged

A fairly stable month on the FX market, some ups and downs, but generally currencies have settled to where they started the month. In the UK strong growth figures bring an interest rate rise closer, whist Brexit negotiations, or lack of, add nervousness.

Unsettlement in the EU zone, dampens any sign of strengthening for this currency. Certainly, the ECB is not giving positive signs that it sees the EU economic recovery as particularly strong. For the US dollar signals are generally more positive and the dollar has consequently fared the best of all G 10 currencies of late.

General news

Diwali, Chinese Autumn holiday and Anuga are all behind us, as we head to Christmas. General tightness in supply, shipping problems, delays and strong demand are putting pressures on the supply chains of some items, whereas others such as pumpkin, where buyers took early advantage of cheap prices, are confusing demand and increasing inventory costs of some wholesalers, who have contracts on call contracts, that are consequently being delayed. So a slightly confused picture.

The increased focus on chemical residues in crops that challenge the default MRL’s set by the EU are also impacting significantly on many crops, where the limits are unreasonably low, and this is making the EU countries a less favoured destination and creating higher prices. There is nothing that can be done, but it should be remembered when there is too big a differential in quotes from importers.

In this report:

  • Pumpkinseed kernels
  • Sunflower seed kernels
  • Linseed
  • Sesame seed
  • Hulled millet
  • Poppy seed

Download the full report (PDF)

1711-Unicorn Market Report-November 2017 (63 KiB, 77 downloads)

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