<img alt="" src="https://secure.item0self.com/192027.png" style="display:none;"> Top Stories

Firmness prevails in the dried apricot market but weak Lira provides some relief

November 23, 2021

1 mins read

Turkish dried apricot prices eased in the past month, with the Mintec Benchmark Prices for dried apricots, size no. 4, sulphured, FOB Turkey, down 9% in the four weeks to 17th November 2021, to USD 6,350/MT. The decline has been underpinned by a fall in the Turkish Lira, down from 9.23 against the dollar on 20th October to 11.21 on 19th November, following interest rate cuts between September and November by the Turkish Central Bank.

Previously, the benchmark peaked at USD 6,950/MT in mid-October 2021 on supply tightness in Turkey, following limited carry-over inventory from the previous season and buyers’ willingness to accept the price hike.

A European trader noted: ‘There was no carry over in Turkey this year. Currently, the market is empty on smaller sizes. Anything smaller than size 8 is sold out, and I am not even sure if there is anything left from size 6 upwards’.

A UK-based trader added: ‘There is no smaller apricots left to buy. Moreover, the crop was very clean this year, with no blemishes. There is no poor-quality apricots, hence very little has been diced.’

The 2021/22 dried apricot production in Turkey is estimated at 86,039 tonnes, an increase of 1% y-o-y compared to the previous season, according to a report published in July 2021 by the Turkish MTB (Malatya Ticaret Borsası). With an additional 5,000-10,000 tonnes expected from neighboring provinces, overall output in Turkey is projected to have reached an estimated 91,000-96,000 tonnes, steady to slightly higher than the previous season.

Jara Zicha
Jara Zicha

/You May Also Like

Featured Image
European sugar beet area is projected to fall from 1.6 m ha in...
Featured Image
The Mintec Global Category Index for nuts fell by 3.4% in the four...