Dried Fruit

Sultanas: export prices decline due to weak exchange rate

November 23, 2021 12:04 PM, Der AUDITOR
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MANISA/REUS. With the new cut in the key interest rate, the Turkish lira lost further in value, which is also reflected in the export prices for Turkish sultanas. Exporters are working at full speed to supply their foreign customers before the Christmas holidays. The INC expects global sultana production to increase by 3.3%.

Exporters go full throttle

The Turkish Central Bank (CBRT) cut the key interest rate by 100 basis points to 15% last week. As a result, the Turkish lira reached a new record low. Market players are looking nervously to the future, as further cuts are also said to be planned for next month. Since September, the key interest rate has already been cut by 400 basis points.

In view of this, some exporters have reduced their prices for sultanas, type 9 to USD 1,500-1,550/mt FOB Izmir. Prices for sultanas, type 10 as well as organic sultanas rem

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