Dried Fruit

Sultanas: TMO urged to buy again

May 19, 2020 10:19 AM, Der AUDITOR
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MANISA. The Aegean Dried Fruits and Products Exporters' Association reckons that the TMO's intervention purchases prevented a price collapse in the sultana market. In the new season, it is very well possible that the TMO will again act as buyer.

Export prices only range nominally higher

The Aegean Dried Fruits and Products Exporters' Association claims that it is essential for the economy that the TMO again intervenes in the dried fruit market in 2020/2021. In addition to sultanas and raisins, the TMO is lao urged to buy dried figs and apricots from the producers.

The raisin market has, nevertheless, witnessed some considerbale declines in price this season. Although the average export price of USD 2.07 per kg ranges higher than last year, it does not reflect the export prices for some varieties. Due to the weak lira, which has been declining for months, type 9 standard sultanas are currently trading in a range of USD 1.70-1.75 per kg CFR Hamburg. Last year at this time prices ranged at USD 2.25-2.30 per kg CFR Hamburg. Organic sultanas were, by contrast, trading around USD 0.20 per kg lower than last year.

Sultanas, Turkey

Type

USD/kg

RTU grades, Type 8, medium

1.68

Grade A, Type 9, STD

1.70-1.75

Grade A, Type 10, STD

1.85-1.95

Organic, Grade A, Type 9

2.60-2.65

FOB Izmir

End of season stocks to range at 50,000 metric tonnes

Turkey exported 4,496 metric tonnes of raisins and sultanas last week, compared to only 4,211 mt in the same week last year. A total of 190,875 metric tonnes have been exported since the beginning of the season, nearly 9,000 metric tonnes less than last year. Turkey has shipped sultanas and raisins worth USD 305 million to Europe this season so far, which accounts for 85% of total exports. The UK is the most important export destination with exports from Turkey worth USD 108 million, followed by Germany (USD 48 million ) and the Netherlands (USD 38 million).

Although the Turkish lira has gained in value since last week, it is unclear what the future holds. Market players also expect farmgate prices to range at TRY 10-11 per kg by the end of the season. At the same time, the producers still hold enough supplies and carry-overs may therefore range as high as 40,000-50,000 metric tonnes. In addition, the outlook for the new crop remains positive with production expected to be similar in size to last year.

Seedless dried raisin exports, Turkey

Season

mt

avg. USD

avg. EUR

2019/20

190,875

2,070

1,896

2018/19

199,398

1,992

1,825

Since the start of the season

 

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price chart, sultanas, type 9, Turkey
price chart, sultanas, type 10, Turkey
price chart, organic sultanas, type 9, standard, Turkey
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price chart sultanas type 10 Turkey
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price chart sultanas type 9 Turkey

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