Figs: The bubble is about to burst

February 9, 2017 at 10:28 AM , Der AUDITOR
Play report as audio

AYDIN. The most recent export figures from Turkey give no reason to celebrate. Market participants agree that the market is at the crossroads.

Drop in exports

Turkey has so far exported almost 37,000 mt of dried figs this season, almost 7% less than last year. One reason for this drop are the comparatively high prices. February’s price level is considerably higher than last year.

 

Dried fig exports in mt

type

2016/17

2015/16

whole

31,917

33,331

diced

2,327

2,695

paste

2,720

3,688

total

36,963

39,714

since the beginning of the season

Drop in prices

The lack of demand has caused the raw fig prices to again drop from 12.00 TRY/kg to a level of 9.75-10.50 TRY/kg. Export prices have also dropped now. This development took market participants by surprise. Low supplies had led them to expect price hikes.

Dried figs, Turkey

Type

USD/mt

EUR/mt

Lerida, No 2

4,950

4,639

Lerida, No 3

4,700

4,405

Lerida, No 4

4,300

4,030

Lerida, No 5

4,200

3,936

FOB Izmir

 Please find attached the price chart.

Attached Files

File icon
figs price chart

View related articles

Go to the News Overview
Nuts
Dec 18, 2024
MANILA. Old coconut palms and adverse weather conditions pose challenges for coconut production in the Philippines. A new holistic concept aims to remedy this. Demand remains high.
Dried Fruit
Dec 17, 2024
AYDIN. The comparatively high proportion of exported dried fig batches that have been rejected at EU borders due to elevated aflatoxin levels is causing concern in the market. Traders who receive too many returns are excluded from the export business.
Dried Fruit
Dec 17, 2024
MANISA. The market is speculating as to whether there will be carry-over stocks at the end of the current season. Favourable weather conditions over the winter months could ease the pressure on prices in the coming year.
Dried Fruit
Dec 17, 2024
MALATYA. Most companies have finalised their dried apricot orders for the Christmas season and are now taking a well-deserved break. The weather is very favourable for the trees and the farmers are satisfied.