Turkish Sultana Prices Increase Following Pressure on the Supply of Raw Material
The past week has seen an increase in the price of Turkish sultanas as importers and packers at Europe struggle to find raw material. Prices have been stable for several months, but following the global shortage of raisins have now started to increase. As an indication good quality standard No. 9 sultanas are being quoted between USD 1750-1850 pmt FOB izmir.
This is a significant increase and the feeling from both EU importers and major Turkish packers is that prices will rise further. In reality there should be ample stocks of raw material to meet export requirements, but as is often the case with any major commodity, markets can be effected by other factors, such as the uncertainty of a smaller new crop.
Unsold stocks of Turkish raisins are now virtually non-existent, although some suppliers continue to offer type No.7 and type No. 8 sultanas, which are darker in colour as a substitute. These should be less expensive than the genuine alternative, but prices have been creeping upwards as available stocks of genuine raisins are nearly exhausted.
As an indication, genuine Turkish Thompsons seedless raisins are available between USD 2200-2300 /MT FOB izmir with the less expensive alternative at a discount of USD 400-500 pmt on this figure.