Sultana Raisins: Markets Are Very Calm MANISA: The exports continue rapidly, but demands are even weaker than last week

Mintec Global
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Turkey started the week with the VAT reduction on primary food products, from 8 percent to 1 percent within the “VAT System Simplification Program” scope. Today, the President’s Decision on the subject was published in the Official Gazette. President Erdoğan said that severe penal sanctions would be imposed against those who do not reflect the VAT reduction on basic foodstuffs to their prices and to those who take adverse steps against these steps. Market players reported that the markets are very calm, that the demands are even weaker than last week and that the exports continue rapidly.

TMO monitors and pulses the exporters for the right time and the correct prices for raisins, but it is stated that the exporters are not interested in purchasing products since there is no demand from abroad.

Exporters continue to process their orders at a slow pace, but the speed of exports has been high for a few weeks. It is said that the export figures, which are higher than last year, are expected, as last year’s figures remained low due to the pandemic year. The daily transactions at the Commodity Exchange in Izmir remain low, and raw material prices are at the same levels as last week.

Market players stated that big organic growers who still have raw materials have slightly started offering their products to the exporters, but even for organic, the demands remain weak. The price of 19-20 TL/kg for organic raw material is expected to remain the same if no extraordinary weather conditions like frost occur in March /April. Exporters offer still 1500-1550 Usd/mt on FOB Izmir basis for type nr.9 and 2000-2200 Usd/mt on FOB Izmir basis for organic type nr.9.

Today the Usd/TL rate was noted at 13.57 TL (13.55 last week) and Euro/TL rate at 15.37 TL levels (15.49 last week).

Turkey’s total exports range at 121.663 mt until 12 Feb. 2022, which was 113.395 mt last year during the same period. Turkey exported 4485 mt of sultana raisins the previous week, being 3450 mt during the same week of the previous Season

Sultana Raisins, Turkey, crop 2021
TypeUSD/kg
Type 8, Std. Grade A1,50
Type 9, Std. Grade A1,50-1.55
Type 10, Std.Grade A1,70
Type nr .9 Organic, Std. Grade A2,10
FOB Izmir

 

Seedless dried raisins exports on mt basis
Season20212020
Qty (mt)121.663113.395

Source: Trade, etc.