Current situation in the dried apricot market
The apricot market which was quite stagnant due to the Christmas holiday started to be active with the buying for the first half of 2024 taking place in recent days.Although demand is increasing there are high interest rates that are discouraging exporters from covering forward sales, but the market remains steady.
Turkish Apricot Market Faces Upward Price Pressure as Euro Hits TRY 32.75
The Euro exchange rate, which has risen up to 33 TL in Turkey, continues today at 32.75 levels. The rise in the exchange rate did not cause a decline in apricot prices, on the contrary, the increasing costs of the producers were interpreted as the prices of dried apricots will increase further in the coming days. In our interviews with market players, it was stated that many parameters such as increasing oil prices, increasing labor costs with the increase in the minimum wage will increase prices.
Malatya Apricot Kernel Exports Generated 16 Million 200 Thousand Dollars in Revenue Last Year
As a reminder Despite the earthquake that occurred on February 6, “Malatya Apricot Kernel” exports were carried out and an income of 16 million 200 thousand dollars was obtained. In the city known as the “World Apricot Capital”, apricots as well as seeds are valued.
Malatya dominates the world production of apricot kernels: Aims to increase exports in 2024
During our meeting with Erhan Almendi, Deputy Chairman of the Board of Directors of the Malatya Commodity Exchange, he said that they export 90 percent of the apricot kernels in Malatya, where most of the world’s dried apricot production takes place.
“We send apricot kernels mainly to European countries. Biggest buyers are Italy, France and Germany. In Europe, apricot kernels are generally used in confectionery and industrial products. In 2023 we exported 4 thousand 788 tons and earned 16 million 200 thousand dollars. These figures are very good. Depending on the yield of almonds in the USA, there can be decreases and increases in prices. Our goal is to export more apricot kernels in 2024”.
Price increase expected
According to our interviews with market players, the common opinion is that prices may increase. Different prices prevail in the market. In our interviews with suppliers, prices for type 2 vary between €6,40 and €6,60/kg for type 2 and between €6,60 and €6,80/kg for type 4.
Supply of good quality remains tight, especially medium and small sizes. Natural apricots are trading at a 20 to 30% premium to sulphured fruit. Organic is unavailable.
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