MANISA: Market players stated that the farmers expect higher purchase prices for their new crop seedless dried raisins.
Market players stated that Turkish farmers are in the meaning that the grape yield is lower this year; therefore, they expect the purchase prices of sultana raisins to be higher due to both the increased production costs and the lower yield. On the other side, however, Turkey is expected to enter the new season with huge stock. Therefore, market players believe that new season purchase prices may disappoint the farmers.
On the other hand, it is stated that especially European buyers will start buying soon to replenish their declining stocks, so overseas demands could be higher as foreseen. During the pandemic, buyers tended to make short-term purchases, making it difficult for exporters to make long-term sales. Since the vaccinations have speeded up worldwide, exporters expect better sales for the new season.
These are the scenarios that are spoken in Manisa, the main sultana growing region. But overall, the new crop is still expected to be around 300.000 mt. It is said that both drought and extreme temperatures in Turkey this year, including frost in the spring months, cause the plants to be stressed and thus decrease the yield. From the beginning of the season to the end of June 2021, 315.000 mt of sultana raisins sales were traded and registered in the stock market.
Exporters have been maintaining the same price level for a few weeks and are still sending their 1650 USD/mt offers to their buyers.
|Sultana Raisins, Turkey|
|Type 8, Std. Grade A||1,60|
|Type 9, Std. Grade A||1,60-1,65|
|Type 10, Std.Grade A||2,05|
|Type nr .9 Organic, Std. Grade A||2,65|
The exports continue still on a high tempo as before. TMO has recently announced its sales prices for the raw material as 12.30 TL/kg for type 7, 12.60 TL/kg for type 8 and 12.90 TL/kg for type 9 to be valid until 31st of July.10% discount is applied for cash payments to exporters.
Turkish lira continues to fluctuate in value against foreign currencies. The Usd/TL rate is at 8.68TL (being 8.69 last week) and Euro/TL rate at 10.31 TL levels (being 10.37 TL Last week.
Turkey exported 191.599 mt sultana raisins until 3 July 2021, which was 215.054 mt last year during the same period; the difference is still -13%. Turkey exported 3323 mt of sultana raisins last week, which was 3266 mt during the same week of the previous Season.
|Seedless dried raisins exports on the mt basis|
|From the beginning of the season until the 3rd of July, 2021|