Turkish Sultana Raisins: Is the Producer Hopeful for the New Season?

After last week’s rainy and cold weather, Turkey started this week with partly cloudy weather.  Although rainfall will be seen in some places, agricultural lands are not expected to be affected like last week.

Goldman Sachs, one of the world’s largest investment banks for the country struggling with high inflation, announced that it expects annual inflation in Turkey to decline to 60 percent by the end of 2022 after reaching 80 percent with the base effect.  The inflation rate announced by the Turkish Statistical Institute (TÜİK) last month was 73,50%.

While there are record price increases in everything due to high inflation, producers are worried about the new season.  While 1,5 lt of diesel can be purchased with 13 TL announced by TMO for raisins last year, this year, the diesel has reached 30 TL, and it is not expected to drop.  Although the producers are not hopeful, the price of raisins that TMO will announce for the new season is still a matter of curiosity.

Exchange rates started the week slightly upwards; the dollar/TL was 17,35;  Euro/TL is traded at 18,25 levels.  Last week, while the dollar was 17,25 TL, the euro was 18,00 TL.

Currently, exporters are offering the same as last week for the 2021 crop 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.

According to Aegean Exporters’ Associations data, between 12.06.2022 and 18.06.2022, Turkey exported 5.454 tons of seedless raisins with an average price of 1,67 dollars/ton.  In the same week of last year, it exported 4.012 tons with an average price of 1,87 dollars/ton.  Since the beginning of the season, it has exported 201.888 tons of seedless raisins with an average price of 1,77 dollars/ton.

Related posts:

Raisins India: Prices will go High or Low in India? Hazelnuts: The hazelnut market is moving very slowly Sultana Raisins: Raw material prices sligthly decreased Dried Apricots: New crop size announcement soon expected Dried Figs: export prices vary huge on supplier basis What the f…lax is going on there? Hazelnut-Prices are moving Indo-Israel signed a new program of Agriculture