Last week, the Turkish Grain Board (TMO) announced it opened the sale of its 2022/23 sultana stock, where the agency is believed to have accumulated around 100,000 tonnes of sultanas.
Prices were announced at the following levels: TRY 28/kg for type 8 sultanas, TRY 26.50/kg for type 7 sultanas and TRY 24/kg for type 6 sultanas. The agency did not announce the price of type 9 sultanas but, according to trade sources, the TMO presently holds very little to no stock in the type 9. “The TMO does not have any type 9 product. They will now start collecting demand for the darker types.” a trader told Mintec. Another trader clarified, “the TMO has very little type 9 sultanas, but nobody will buy this type because it is too expensive. Mostly types 8 and 7 will be traded now.”
Last year, the TMO committed to buying type 9 sultanas at TRY 27/kg (2022/23 crop), an increase of more than 100% compared to the 2021/22 crop (TRY 13/kg).
Following the announcement of the 2022/23 TMO selling prices, some Turkish sellers increased their offers and the Mintec Benchmark Prices for Turkish type 9 sultanas rose 3% as a result during the week ending 24th May, to $1,665/MT.