Sultana Raisin Market: In the Shadow of Inflation

Due to the heavy rain, hail and storm experienced in Manisa in the past days, some vineyards in Alaşehir, Ahmetli and Salihli were damaged on a small scale. And also, grape producers state that, as in everything else throughout the country, the costs have tripled with the hikes in diesel, fertilizer, medicine and labor, but the price of grapes has not increased at the same rate.

While the Turkish lira depreciated against the euro and the dollar, the increase in raw material prices and the fact that export prices remained the same make the producers think. Contrary to the rest of the world, President Erdoğan, in his statement in the country struggling with a record high inflation rate of 73%, said, “This government will not increase the interest rate; on the contrary, we will continue to reduce the interest rates,” signaling that prices will rise for a while.

World’s Warehouse in Dried Fruit

Mehmet Ali Işık, President of Aegean Dried Fruits and Products Exporters’ Association, drew attention to the fact that Turkey is today’s world’s warehouse for dried fruits. Informing that Turkey accounts for 33 percent of the world’s exports in seedless raisins, 54 percent in dried apricots and 58 percent in dried figs, Işık gave the following information: “We are the world leader in both production and export of these three products. A collaboration between exporters, the public, manufacturers, universities, institutes, chambers and stock exchanges has a great share in this success. Our locomotive product in dried fruit is seedless raisins. We produce approximately 300 thousand tons of seedless raisins. In the past years, it was 50 thousand tons, and it reached this point with cooperation between institutions. The lands were rehabilitated, the production technologies were changed, and the farmers were informed. The yield, which was 100-200 kilos per decare yesterday, has increased to 400-500 kilos today. The value and quality of seedless raisins have increased. This structure brought us the world leadership in both production and export. We will increase our exports, which were 220 thousand tons last season, to over 250 thousand tons this season. Our export figure in raisins comes to 500 million dollars.”

There are two months for the new crop, and currently, exporters, for crop 2021, offer at 1.400-1.450 Usd/mt on FOB Izmir basis for type nr.8 and 1.500-1.550 Usd/mt on FOB Izmir basis for type nr.9.