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Dried apricot prices up on lower Turkish output and stronger lira

July 27, 2020

1 mins read

Turkish authorities estimate the dried apricot production in 2020/21 in Malatya, Turkey, to reach 85,275 tonnes, a decline of 4% year-on-year (y-o-y). With additional 5,000-10,000 tonnes coming from neighbouring districts, the overall Turkish output could reach 90,000-95,000 tonnes, less than last year.

The quality of the new season crop is looking well with larger fruit noted than in a typical year. The proportion of naturals is anticipated to increase from 2019/20, however, the availability of organic product is expected to be tight.

Earlier this year, the INC (International Nut and Dried Fruit Council) projected the size of this year’s Turkish dried apricot crop at 78,000 tonnes,  a decline of 22% y-o-y, taking the overall supply in Turkey to 98,000 (including 20,000 tonnes of carry-in stocks). The production decline has been attributed to frosts in March and April and farmers opting to sell larger proportion of their crop to fresh market, due to higher prices for fresh fruit this year.

The expectations of lower output, coupled with stronger Turkish lira, have caused the dried apricot prices to increase recently. The Mintec price of Turkish dried apricots CFR UK increased 5% month-on-month (m-o-m) and 17% quarter-on-quarter (q-o-q) on 8th July, at $3,375 per tonne.

Jara Zicha
Jara Zicha

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