Sultanas: Spirits dampened by hail
June 12, 2017 at 9:44 AM ,
Der AUDITOR
Realistic carry-over stock estimates?
Since the beginning of the season, Turkish dried fruit exporters have delivered almost 211,000 mt of sultanas to foreign countries, that is 37.5% more than last year at this time. Considering the domestic consumption of about 40,000 mt, already 250,000 mt have been consumed in this season. The carry-over stocks are currently estimated at 40,000-50,000 mt. Even with last year’s production exceeding 300,000 mt, exports and domestic consumption would have to drop strongly in the next few weeks for the estimates concerning the carry-over stocks to prove true
Sultana exports in mt |
|||
Season |
mt |
avg USD |
avg EUR |
2016/17 |
211,761 |
1,571 |
1,396 |
2015/16 |
154,087 |
2,106 |
1,871 |
Since the beginning of the season |
Unrealistic offers
Hail in Manisa has caused some damage to the vines, but this still has had no effect on the prices. The actual extent of the damage still remains to be seen.
Offers for prompt delivery are maintaining a stable price level. For sultanas, Type 9, STD from the new crop, the asking price currently varies between 1,450-1,550 USD/mt FOB Izmir. Market players, however, assume that these offers will not be accepted for the time being.
Sultanas, Turkey |
||
Type |
USD/mt |
EUR/mt |
Grade A, Type 8, STD |
1,245 |
1,106 |
Grade A, Type 9, STD |
1,275 |
1,133 |
Grade A, Type 10, STD |
1,425 |
1,266 |
Organic, Grade A, Type 9 |
1,850 |
1,643 |
FOB Izmir |