Turkish Dried Apricots: December 1st , 2016
Presidential elections and Trump’s victory affected the Turkish Dried apricot market immensly. The Turkish Lira lost 10% value in 10 days. This sharp decline stopped the market and all players positioned themselves as a ‘’ wait and see’’ policy. All eyes are on the Feds meeting on December 13-14, 2016. Today’s market value for size #4 non organic is currently @ $2800/mt. Local dried apricot raw material prices are stable. Demand for dried apricots in the worldwide market is currently at record lows. No one wants to keep stocks & many importers who choose to buy ask for very prompt shipments with spot purchasing mentality. Demand for Industrial & small sized apricots is increasing with the re opening of trade with Russian markets. There seems to be 2 alternatives for the apricot market either thew FEDS increase rates and apricot prices decrease to $2600/mt of FEDS do not increase rates and apricots hit the $3000/mt levels. Other than the mentioned there are no other factors remaining for Turkish Dried Apricots.
Turkish Dried Figs:
Market is increasing Daily on a TL basis but at the same time TL is getting weaker against the USD. So basically prices are stable on the USD basis. There is approximately 3500 to 4000 tons of figs remaining in the market but only about 1000 tons of Organic. There really is NO price difference between organic and non organic raw material prices so this gives the advatage to organic exporters to sell their Organic fruit at Premium levels.