23 August 2013 16:40 [Source: ICIS news]
LONDON (ICIS)--Civil unrest, mass protests and violence in Egypt have interrupted soda ash trade with Turkey, sources said on Friday.
Egyptian buyers have not got enough foreign currency to pay Turkish sellers and the uncertainty surrounding civil unrest has made market conditions extremely volatile, a Turkish producer said.
Egypt is Turkey's main market for soda ash exports and recent mass protests and violent clashes with military forces have been causing problems for weeks now.
As a result, Turkish producers have had to cut sales to Egypt because they are not certain whether they will get payment on time - if at all - and disruptions at important ports in Egypt have also made it difficult to conduct trade.
In addition, a lack of US dollars in Egypt has made it difficult to buy anything from abroad, one seller said.
($1 = €0.75)
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