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Raisins: traders contradict INC estimates

July 8, 2020 at 10:32 AM , Der AUDITOR

TEHRAN. Raisins account for a considerable share in Iran’s agricultural exports. Despite all the setbacks witnessed this year, market players are confident that overseas shipments will rise. The market is, however, confronted with quality issues and traders oppose the official production estimates of the International Nut and Dried Fruit Council.

Market estimates range higher in Iran

As recently issued statistics form the Ministry of Agriculture indicate Iran’s cultivates grapes on more 308,000 hectares and thereby has a 4.2% share of the global area under cultivation (7.4m ha). Annual grape production ranges at 3 million metric tonnes and the dominant grape varieties are white and black seedless, which account for 80-90% of production.

The INC estimates that this year’s global raisin production will exceed 1.3 million metric tonnes. Although market players in Iran agree with the INC that the country ranks third in terms of production after Turkey (300,000 mt) and the US (220,000 mt), they disagree with the INC that production will only rise by 6.7% to 160,000 metric tonnes. Market estimates within Iran rather range at 200,000 metric tonnes and exports are expected to rise to 150,000 metric tonnes in 2020/2021. At USD 164 million Iran’s raisin exports accounted for a large share in agricultural exports last year. Their optimism notwithstanding, however, traders also admit that the conditions in Iran are far from ideal. Yields are low and there are quality issues. Problem are that the traditional old-fashioned methods of cultivation, which predominate in Iran, curb efficiency and promote a low performance, high waste and high costs.

Low prices for the new crop

Exchange rate fluctuations have pushed prices down over the last two weeks. Sultanas and sundried raisins are trading EUR 0.09-0.10 per lower. The prices for green raisins are trading relatively firm. Golden sultanas, however, are the noted exception as good export demand has driven prices up by EUR 0.06 per kg. Cheap offers are currently being issued for new crop with type 9 sultanas trading at EUR 1.30 per kg DDP Germany.

Raisins, premium grade, Iran
Type	EUR/kg*
Sundried	1.47
Sultanas	1.31
Golden	2.06
Green	2.04
FOB Iran

*Please note that the prices indicated her apply to an order volume of 1 metric tonne. Prices may range lower for higher volumes.

View more information

- price chart, raisins, sundried, Iran
- price chart, sultanas, premium grade, Iran
- price chart organic sultanas, grade A, type 9, standard, Turkey
- more price charts

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What are incoterms?

Incoterms are internationally recognized trade clauses that facilitate the trade in goods with the help of standardized contract formulas. They regulate the distribution of costs and obligations and thus prevent misunderstandings and disputes. They must always be agreed by both contracting parties and confirmed by signing the contract.

Overview of the incoterms

Please note that this is only a rough overview of the Incoterms. For a comprehensive description of the Incoterms, please visit the website of the International Chamber of Commerce.

EXW - Ex-Works (ex works)
The seller must ensure access to the goods at another named location (e.g. factory, factory, warehouse, etc.). The buyer organizes the loading and the transport and bears the costs and risks.

FCA – Free Carrier (free carrier)
The seller must deliver the goods to the buyer's carrier at a location specified by the buyer (for shipping or collection). The seller also undertakes the export customs declaration. The buyer assumes the risk from the moment the goods are handed over to the carrier.

FOB – Free on Board (free on board)
The seller assumes all costs and risks until the goods have been loaded onto the ship. The seller is also responsible for export clearance. The buyer takes responsibility as soon as the goods are on board.

CIF – Cost, Insurance And Freight (Costs, insurance and freight to the port of destination)
The seller assumes all costs and risks until the goods have been loaded onto the ship. The seller bears the costs for packaging and postage for export. The seller also takes out insurance against the buyer's risk of losing or damaging the goods during carriage.

DAP – Delivered At Place (delivered named place)
The seller assumes the costs and risks for the transport of goods to an agreed address.

DAT - Delivered at Terminal (delivered terminal)
The seller must make the goods cleared for import available to the buyer at the terminal of the named port of destination at the agreed time.

CPT – Carriage Paid To (freight paid by)
The seller must make the goods cleared for import available to the buyer at the terminal of the named port of destination at the agreed time.

DDP – Delivered Duty Paid (duty paid free)
The seller delivers the goods to a destination at his own risk and expense. He takes care of all the formalities and bears all costs and import duties.

CFR – Cost and Freight (cost and freight)
The seller assumes all costs and risks until the goods have been loaded onto the ship. The seller has to conclude the transport contract and bears the costs and freight for transporting the goods to the named port of destination or import terminal

CIP – Carriage And Insurance Paid To (freight and insurance paid by)
The seller delivers the goods to the carrier or another person named by the seller to an agreed location. The seller bears the costs and risks for the transport to the specified destination, as well as for the freight insurance. The buyer regulates the import handling and import taxation.

FAS – Free Alongside Ship (free alongside ship)
The seller delivers the goods to the carrier or another person named by the seller to an agreed location. The seller bears the costs and risks for the transport to the specified destination, as well as for the freight insurance. The buyer regulates the import handling and import taxation.

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What are incoterms?

Overview of the incoterms