Market info - Turkish raisins

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Turkish raisins

As Turkey's central bank desisted from changing the key interst rate last week the lira has remained relatively firm. Inflation has risen by 36% in Turkey in recent months to a 19-year high. Cold weather, frost and snow prevail in the country at present, whereas trading is rather subdued. At USD 1,500/mt FOB Izmir the prices for prompt shipments may range around USD 100/mt lower than for longterm contracts but buyers are showing little interest. The prices for organic type 9 sultanas have decline a bit since last week. While small volumes are being traded at the Izmir Commodity Exchange, the farmgate prices for type 9 sultanas have declined since last week. The container shortage, however, persists, which is driving up feight charges. Shipments to European main ports currently cost USD 100/mt.

Turkey has shipped 108,543 mt of seedless dried raisins overseas since the start of the season, which is 5,400 mt more than last year. Weekly exports are, however, showing some weakness. They recently only ranged at 3,531 mt, which is down on the 3,874 mt recorded in the same week last year.

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