As of Monday evening last week, the depreciation of the Turkish lira reversed, and a significant value increase was observed. The USD/TL exchange rate regressed from the 18 TL band to the 11 TL band, while the EURO/TL band regressed from the 20 TL to the 13 TL band. After this significant increase in value, raw material prices in the dried raisins markets decreased from 17 TL to 13 TL/kg. In the transactions made in the Izmir Stock Exchange today, 13.50-14 TL was traded for Sultana raisins type no 9. Organic sultana raisins are offered at 2000-2100 Usd/mt on FOB basis.
According to the information given by the market players, despite these rapid changes, exporters continue to offer their export prices at the level of 1550 Usd/ton FOB due to the increasing production costs. Continuing uncertainties also cause exporters to be unable to see their way.
It is stated that due to Christmas and New Year’s Eve, buyers are not making any demand or purchase at the moment, and this is expected to continue until at least mid-January. Meanwhile, although the direction of the developments in the Turkish lira cannot be predicted, the markets are both lively and, on the other hand, very calm.
Today the Usd/TL rate was noted at 11.54 TL (17.57 last week) and Euro/TL rate at 13.07 TL levels (19.80 last week), meaning an appreciation of almost 50%.
Turkey’s total exports range at 91.213 mt until 25 Dec. 2021, which was 88.913 mt last year during the same period, meaning an exceed of approx. 3.000 mt. Turkey exported 4717 mt of sultana raisins last week, being 2976 mt during the same week of the previous Season.
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Sultana seedless raisin export figures on mt basis |
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Season |
Mt |
Ø Usd |
Ø Euro |
|
2021 |
91.213 |
1.817 |
1.605 |
|
2020 |
88 913 |
1.916 |
1.691 |
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Since the beginning of the Season 2021 |
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Sultana Raisins, Turkey |
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|
Type |
USD/kg |
|
RTU-Grade, Type 8, medium |
1,50 |
|
Grade A, Type 9, STD |
1,55 |
|
Grade A, Type 10, STD |
1,70 |
|
Organic, Grade A, Type |
2,05 |
|
FOB Izmir |
|
Source:Trade etc..