Stagnation prevails in the Turkish raisin market. Of course, there are shipments, but these are due to long-term contracts made earlier. As we have stated in our previous reports, although the official figures are not known, the high increase in prices due to more than half of the low yield due to disease during the harvest period has affected the market. The price of type 8 sultana raisins, which was €1.60 at the end of summer, is around €2.40 now.
Raw material is hard to find
The price of everything in the country increases almost every day. Since December, the raw material price has increased by 5-6 TL. In addition to the price increase, suppliers have difficulty in finding raw materials. Farmers and traders are holding the goods with the expectation of a price increase, anticipating that stocks may run out due to low yields. Because of that trades made usually cover short periods. Neither buyers nor sellers favour long-term sales in this uncertain environment.
In addition, as in all markets, the raisin market is also under high pressure from the constantly increasing exchange rate. 1 Euro, which was 20.33 TL last year, is 32.75 TL today. And the Euro, which never tires of climbing, still has its eyes on the heights.
With the year 2024, the 50 percent increase in the minimum wage indicates that there will be new price increases in raisins with increasing exchange rates. Based on our discussions with market actors, considering the low product due to low yield and price jumps in the country, those who buy today will somehow buy cheaper than tomorrow.
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