Raisins: California has significantly increased exports this season from a reduced total crop. The development of the new crop in Turkey is not quite as good as earlier reports suggested. Given Turkey’s major loss of raisin business to California this season, weather permitting at harvest, it is highly likely that Turkey will aim for optimal raisin production.
Sultanas: Although reports of widespread damage, due to a series of frosts, spooked prices in late March and early April, this was short-lived, largely due to the ongoing realisation by Turkish packers that their weekly and season-to-date sales year on year, were running a worrying 20%-plus lower than for the same period last year.
Currants: Origin prices (in Greece) on the current crop have increased on the back of a tightening stock scenario, although prospects for a good size new crop continue, with expectations of at least 30,000mt widespread. For the UK, at least, the origin strength has been offset by the weakness of the euro against sterling.
Apricots: Prices have remained stable, despite an ultra-gloomy forecast due to varying reports of earlier frost damage. This suggests that local farmers and processors are more optimistic and ’private’ reports predict a figure closer to 80,000mt.
l Based on information provided by ingredients supplier RM Curtis