Sultana Raisins

Turkish Sultana Raisins: TMO Starts Buying

Mintec Global
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Turkey’s dried sultana raisins harvest is going on. In some regions rainfalls have caused damage but not significantly. TMO had announced 27–TL/kg for type nr.9 as the purchase price for the new crop, which was 13 TL/kg last Season.

The announced purchase prices caused negative reactions of the farmers. Farmers state that this year’s prices did not meet their expectations. Market players said that private businesses buy the sultana raisins at a lower price of 5 to 6 TL than TMO. Farmers are for sure prefering to sell their products to TMO, but it hasn’t started buying yet and most of the farmers whose raisins were ready for sale had to make their sales to the traders for 21-22 TL without waiting for the TMO to make a purchase, due to reasons such as bank depts and storage problems.

TMO is starting to buy raisins

According to the announcement, TMO; has completed all kinds of technical infrastructure, storage, personnel and financing preparations for grape purchases. Purchases are starting from September 7 in Manisa (Çobanisa) and Salihli, and starting from September 12 in Alaşehir, Buldan, Çal, Sarıgöl, Saruhanlı and Turgutlu. Product price payments will be transferred to the producers’ bank account within 21 days after the delivery of the product.

TMO is going to pay for type nr 10 – 28 TL, type nr 9 – 27 TL, type nr. 8 – 26 TL and nr. 7 – 25 TL.

Some exporters have started offering conventional sultana raisins type 9 1.700 Usd/mt while others maintain 1.800 Usd/mt on a FOB basis. Considering that with the TMO’s start of purchases, the farmers will start to give the remaining grapes to the traders at higher prices, it is possible that fob prices will increase.

This week in the country where the foreign exchange rate has risen to record levels the Usd/TL rate at 18, 21 TL (18,18 last week) and Euro/TL rate is at 18,11 TL levels (18,18 last week).

Dried raisin exports on mt basis according to Aegean Exporters’ Associations data
Season01.09.2022-03.09.2022 (tonnes-avg.price)01.09.2021-03.09.2021 (tonnes-avg.price)
Qty (mt)3.653 tonnes – 1,82 usd2.140 tonnes – 1,70 usd
Since the beginning of the season