Dried Fruit

Sultanas: Opacity as weapon

October 28, 2016 at 9:13 AM , Der AUDITOR
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MANISA. Prior to the SIAL, many Turkish exporters had high hopes of making a big deal. In the meantime, they have returned back home, and are confronted with a rather sobering situation.

Will they be thrown back to the Middle Ages?

Low prices
The market is currently very quiet in Turkey. Even comparatively low prices cannot entice buyers to be lured out of their reserve, and buy. They would rather wait and see, and hardly enter any long-term contracts. The price range between conventional sultanas type 8, and type 10 is uncommonly high at 200 USD.

Farmers are putting world market under pressure
Exports have quickly shot sky-high this season. Since beginning of the season already 45,000 mt were sold abroad. Just 38,000 mt were sold abroad at the same time last year. Traders report that 60-70% of this year’s crop was already sold on commission. The farmers do not like the current price development at all. They demand no less than that no crop estimates be published in the future anymore, and are heavily putting their government under pressure. They are hoping for higher prices through opacity. Should the government yield to this pressure, it could cost Turkey its standing on the world market.

sultanas, Turkey

type

USD/mt

EUR/mt

grade A, type 8, STD  

1,200

1,100

grade A, type 9, STD  

1,300

1,192

grade A, type 10, STD  

1,450

1,330

organic, grade A, type 9  

2,050

1,880

FOB Izmir

Attached Files

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sultanas, grade A, type 9, STD, 2,21 - 1

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