Coconut: The link between coconuts and crude oil pricing is incredibly close. Crude oil pricing strengthened in early April and coconut pricing also rose. With pricing correcting downwards in the second half of April, coconuts tracked the same trend.
Raisins: Raisins remain tricky to read over the rest of the current crop season, given uncertain supply from Turkey and currency-driven volatile pricing from California. Both Turkey and Iran expect good crops.
Sultanas: The expectation is for a minimum crop of 280,000mts, and a possible carry-over of as much as 20,000mts. Prices over the past month have been surprisingly firm.
Currants: There seems little chance of any significant price improvement this side of the new crop. Currants continue to be priced considerably higher than sultanas and raisins.
Apricots: Earlier localised frosts in Turkey have reduced the new crop from optimum levels and there is still the chance for later additional frosts to further impact on 2009 crop supply. In the short term, at least, prices are heading upwards.
Prunes: With Californian supply much reduced, demand from the US is far higher than usual for the first possible shipments of South American fruit. The question is whether the comparatively small Chilean and Argentinean crops can last the period before the key new crops in France and California itself.
l Based on information provided by ingredients supplier RM Curtis