Turkey started the first working day of the year and week by announcing annual inflation figures. Turkish Statistical Institute (TUIK) announced inflation data for December. Annual inflation rose to 36.08 percent, the highest level of the last 19 years. In December, monthly inflation reached the historical status of 13.58 percent. After the announcement of the inflation data, the Turkish Lira started to rise against the exchange rates at noon. While the loss in the USD exceeded 3 percent, it was withdrawn to 12.80 in the afternoon. On the other hand, Euro depreciated by more than 3 percent against the TL and was withdrawn to the level of 14.62TL. While the USD started at 13.50 TL levels, the Euro opened the day at 15.60 TL levels.
Sultana raisins raw material prices increased accordingly to 14-14,50 TL/kg levels after the depreciation of the TL. There were no transactions at the Stock Exchange today as it is the first day after the New Year Holiday. Market players stated that exporters expect that TMO will start selling raw materials soon as they have closed the purchase from the growers as of 31 Dec.2021. As the raw material prices are continuously changing due to the fluctuating Turkish Lira, the exporters are in the meaning that the prices will settle once TMO has announced sales prices. The export prices offered for type nr.9 are still at 1550-1600 Usd/mt FOB Izmir levels. Market players also informed that organic raw materials are sold out and that the offers are increased to 2350-2400 Usd/mt for new contracts. Exporters expect that demands will rise again once the buyers have started again.
Today the Usd/TL rate was noted at 13.03 TL (11.54 last week) and Euro/TL rate at 14.70 TL levels (13.07 last week).
Turkey’s total exports range at 95.589 mt until 01 Jan. 2022, which was 91.693 mt last year during the same period, meaning an exceed of approx. 4.000 mt. Turkey exported 4402 mt of sultana raisins last week, being 2780 mt during the same week of the previous Season.
| Sultana Raisins, Turkey, crop 2021 | |
| Type | USD/kg |
| Type 8, Std. Grade A | 1,50 |
| Type 9, Std. Grade A | 1,55 |
| Type 10, Std.Grade A | 1,75 |
| Type nr .9 Organic, Std. Grade A | 2,35 |
| FOB Izmir | |
| Seedless dried raisins exports on mt basis | ||
| Season | 2021 | 2020 |
| Qty (mt) | 95.589 | 91.693 |
| From the beginning of the season | ||
Source: Trade, etc.