Market players informed that the sultana markets remained calm last week. Farmers continue to deliver their products primarily to TMO due to the price difference with the Market.
Type nr. Nine is still traded at 11.50 TL/kg at the Commodity Exchange in Izmir, which is less than TMO’s price. For this reason, there are not many transactions at the Commodity Exchange in Izmir.
Exporters are offering conventional sultana raisins at 1.550-1.600 Usd/mt. Organic sultana raisins are provided at 2.400-2.450 Usd/mt on a FOB basis.
The demands are also low from abroad, but the expectations are that this will change soon as this calmness was primarily due to the Anuga Fair in Cologne last week.
Market players informed that there are significant concerns that despite inflation being high, possible interest rate cuts could follow after the policy meeting of the Central Bank to be held on Thursday. This could result in a continuous slump of the Turkish Lira after the 3.5% since last week. Today, the Turkish Lira noted the Usd/TL rate at 9.32 TL ( 9,00 previous week) and Euro/TL rate at 10.83 TL levels ( 10.41 last week).
The total exports until 16 Oct. 2021 noted 40.129 mt, which was 40.441 last year during the same period. Turkey exported 5.344 mt of sultana raisins the previous week, which was 6.532 mt during the same week of the previous Season.
|Sultana Raisins, Turkey, crop 2021|
|Type 8, Std. Grade A||1,50|
|Type 9, Std. Grade A||1,55-1,60|
|Type 10, Std.Grade A||1,75|
|Type nr .9 Organic, Std. Grade A||2,45|
|Seedless dried raisins exports on the mt basis|
|From the beginning of the Season|
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