Dried Figs: Increase in the price of large sizes

Market players reported that raw material prices are constantly increasing due to the lower yield compared to last year, the speed of exports, and the lack of products in the markets. Despite the high depreciation of TL, the increase in raw material prices caused the export prices of especially large-size products to increase more. The expectations are that raw material prices may rise over 60 TL/kg levels. Exporters also informed that freight costs increase almost monthly and have reached 1800/1900 Euro for 20ft Container to European Main Ports.

The fluctuations in the Usd/TL rate continue at a high speed. 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. The decision is followed closely by foreign markets also. 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). Exports are continuing at high speed. Demands are increasing as well. 

Turkey exported 1645 mt of dried figs and figs products being 1617 mt during the same week of last year. The total of exports range at 26.372 mt  being 27.265 mt in total in the same period last year

Dried figs, Turkey, crop 2021

Source:Trade