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Latest From Andrew Ciclitira
Turkish sultana and raisin prices have firmed slightly over the past few days following the improvement in the exchange rate of the Turkish lira against the US dollar.
UK traders and importers report brisk sales of Turkish sultanas and raisins as buyers look to cover their requirements of dried vine fruits for the year ahead. First new crop arrivals have now reached the UK and although the quality of this year`s Turkish fruit is not thought to be as good as the previous crop, there have not been many adverse reports.
The past week has seen a slight increase in the value of sterling against the US dollar and the euro which has helped reduce new crop prices of dried vine and tree fruits.
Exports of Turkish sultanas and raisins have reached 270,155 tonnes as of the end of August at an average cost price of USD1,617 per tonne fob Izmir. Of these 70,046 tonnes were exported to the UK at an average price of USD1,649/tonne fob Izmir.
The UK remains the largest importer of dried fruits with the bulk of dried vine fruits being sourced from Turkey. This strategy has been successful for many years with Turkey exporting its dried fruits to Europe duty-free.