17th October 2019 – Sterling Strength Drives Sales of Dried Fruits

Prices of the different origins of dried vine fruits have been stable over the past few days, despite the intervention of the Turkish government to try to prevent the price of raw material from falling as packers compete with each other to secure forward export orders.

The Turkish dried vine fruit crop has now been safely harvested so, in theory, if sales follow the pattern of the previous year, there should be ample raw material to meet demand. If exports fall, however, it may be difficult to prevent prices from falling from today’s levels. Indicative prices are unchanged with specially cleaned standard No.9 sultanas, quoted between USD2,000-2,050 per tonne fob Izmir. Prices of Turkish raisins are at a premium of USD100-150/tonne on this figure.

Greek currant prices are also unchanged with good quality Greek provincial currants quoted between EUR2,500-2,600 (USD2,758-2,868) per tonne fob Piraeus. The Union of Vostizza remains the largest packer of Greek currants and looks to give the best returns to its member farmers. This, as in the case of government intervention in Turkey, has helped to bring stability to the Greek currant market. This is not however, the best news for export customers who continue to look for lower prices. It remains to be seen whether with a much larger crop of currants, prices will remain at today’s levels.