Market players reported that all markets, especially the financial markets, are very turbulent in Turkey nowadays. After the fluctuation in exchange rates on the first trading day of the week, the Central Bank intervened in the market in the direction of selling. The dollar rate had seen the highest level of 14.63 during the day. The rate is at 13.84 as of the evening. The Central Bank is expected to cut the policy rate by 100 basis points at the last Monetary Policy Committee (MPC) meeting of the year on Thursday, despite the rise in inflation and the sharp depreciation of the TL.
Raw material prices have increased accordingly to 15 TL/kg, which was 14.50 TL/kg last week. The trade is poor at the Borse in Izmir. Exporters still offer at 1500 Usd/mt for type nr.9 due to the increased processing costs and the uncertainty of the course of the TL. Both farmers, traders, and exporters expect further price increases if the depreciation of the TL continues. Organic sultana raisins are offered at 2150-2200 Usd/mt on FOB basis.
Germany is at the top
Aegean Dried Fruits and Products Exporters’ Association, which is the world leader in the production and export of seedless raisins, dried figs, and dried apricots, realizing 55 percent of Turkey’s exports, will organize a webinar with European Dried Fruits, Nuts, Canned Foods, and Similar Products Trade in Brussels. Federation (FRUCOM) and Germany-based Waren-Verein der Hamburger Börse eV on December 15th. In the webinar, the developments in the Turkish dried fruit and raisin sector from the perspective of sustainability and the European Union Green Deal will be shared and aimed to be informed about the new trends in the German dried fruit market and to increase the trade and dialogue between the two countries.
“Following new trends and expectations is vitally important”
Pointing out that Turkey’s dried fruit exports increased from 1 billion 272 million dollars to 1 billion 403 million dollars in the 11 months of 2021 with an increase of 10.5 percent, Aegean Dried Fruits and Products Exporters’ Association President Birol Celep said that the European Union is the leading importer of Turkish dried fruits. He stated that they want to preserve the strong ties that have been established with Germany, which has been the commercial partner for more than a century. Noting that the dried fruit industry exported to 155 countries in 2021, Celep said, “International meetings have been postponed due to increasing Covid-19 cases and health risks, but to inform the dry fruit importers in Germany, our biggest buyer market in our dried fruit exports, about sustainability and our work within the framework of the EU Green Agreement, we will organize this webinar to provide information and also to have information about the developments and expectations in the German dried fruit market.”
Today, the Turkish Lira noted the Usd/TL rate at 13.84 TL (13.79 last week) and Euro/TL rate at 15.64 TL levels (15.58 last week). Turkey’s total exports range at 81.512 mt until 11 Dec. 2021, which was 81.932 mt last year during the same period. Turkey exported last week 4502 mt of sultana raisins, being 3939 mt during the same week of the previous Season.
|Sultana Raisins, Turkey, crop 2021|
|Type 8, Std. Grade A||1,40|
|Type 9, Std. Grade A||1,40-1,50|
|Type 10, Std.Grade A||1,70|
|Type nr .9 Organic, Std. Grade A||2,20|
|Seedless dried raisins exports on mt basis|
|From the beginning of the season|
Source: Trade, etc.
The following reports may be of interest to you: