Dried apricots: concerns about the new crop
March 31, 2020 at 8:34 AM ,
Der AUDITOR
TRY continues to lose value
According to reports, only those companies that have to fulfil orders based on existing contracts continue work. Here too, the lowest possible personnel capacity is used. The concern of the producers is that the government will have the companies closed or buyers may cancel their orders. The Turkish lira has lost a further 2% against the euro and producers are currently trying to sell as much commodities as possible before purchases are possibly cancelled.
Uncertainty rules the market
Export prices remain largely stable, as there is currently no movement on either the buyer or seller side. The market situation is extremely uncertain, as it is still difficult to estimate what far-reaching consequences the Covid 19 pandemic will have on the markets. In 2019, the yield was around 100,000 metric tonnes, of which 75,000 metric tonnes were exported and 10,000 metric tonnes were for domestic consumption, so that with the overstocks of the previous year an estimated 40,000 metric tonnes of dried apricots are still available. On average, 8,000 metric tonnes were exported each month. Market players reckon that about 32,000 metric tonnes can still be delivered this season, although the final quantity may still deviate by up to 10% from these estimates.
|
Dried apricot exports in mt |
||
|
Type |
2019/20 |
2018/19 |
|
Whole |
64,624 |
61,494 |
|
Industrial |
5,861 |
7,890 |
|
Diced |
4,811 |
4,980 |
|
Total |
75,296 |
74,364 |
|
Since the beginning of the season |
||
Difficulties for seasonal workers
In the meantime, the producers are worried about the new crop. Forecasts are good, there is currently no risk of frost and estimates are for a crop of up to 200,000 metric tonnes, which would lead to price reductions. The problem is that over 80% of the seasonal workers come from outside the province. As entry may be banned due to the spread of the coronavirus, it is possible that a large proportion of the apricots cannot be harvested. There are no price changes for dried apricots compared to last week.
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Dried apricots, Turkey |
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|
Size |
USD/mt |
EUR/mt |
|
No 2 |
2,850 |
2,585 |
|
No 4 |
2,650 |
2,400 |
|
No 6 |
2,450 |
2,220 |
|
No 8 |
2,150 |
1,950 |
|
FOB Mersin, 2000 ppm |
||
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