We would like to share some numbers and comments on Turkish Sultana Market as we have just closed the first month of 2018.
As most of you are well aware, Turkish Sultana prices had caught a wind and gradually increased from early December to mid-January. Probably the reason for this increase seems to be a combination of below factors:
- High prices due to crop shortages in other origins, mainly Iran and the US.
- High demand and good pace of exports.
- Raw material purchases at the bourse at prices higher than market norms of that period.
- Farmers’ reluctance to sell due to expectations of higher raw material prices.
Prices experienced a small drop in mid-January. This is most likely because of the fact that Iran started selling old crop fruit approximately 200 USD per ton less than Turkish prices. This has led to slowing the pace of Turkish dried sultana exports.