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News

California finally announces raisin field price Our correspondent in Fresno in Californian reports that the US raisin bargaining association has finally agreed the growers field price which this year will be 1323 USD per ton compared to 1310 USD last year. This is good news for the industry and has resulted in an immediate reduction in prices. It is also been agreed in principle for there to be an export programme with the grower price being set at USD 9023 per ton with 85% of the crop being free tonnage and 15% going to the reserve pool. This year US raisin crop is thought to be around 275 thousand short tons compared to 345 thousand tons last year. This is a significant difference but should be sufficient to meet export requirements. Any prices quoted are still at the risk of the individual packer as the US government still has to confirm the new arrangements. Hopefully this will happen shortly ending a period of uncertainty in the raisin market. Prices are around 80-82 cents per lb C&F Felixstowe for select grade Thompson seedless raisins. Prices of Turkish sultanas and raisins have also eased back over the past few days. There is no specific reason other than perhaps first shipment have been made and more fruit is becoming available on the local Izmir bourse. As an indication specially cleaned no 9 sultanas are being quoted between 2100 USD, 2200 pmt FOB Izmir. This is a small reduction but most importers are hopeful that prices will start to fall back to more reasonable levels. It is still unclear how much fruit is damaged by the recent rains at the tail end of the harvest, but this will become more evident once offers of rain damaged fruit, which is usually much darker in appearance become available. The high Turkish prices have encouraged imports of fruit from other origins such as china. Unfortunately however prices of Chinese sultanas has increased as local exporters followed movements with the Turkish market. As an indication good quality Chinese sultanas are available at prices between GBP 1000-1050pmt LDP.  First new season of shipment of Turkish figs have now taken place and reports that the quality is much better than last year. Hopefully this will mean that despite late rains problems with aflatoxin will be less this year. Good news again is that the EU has announced a reduction in the percentage of imports that will be tested at the port of entry from the 1st January 2010. Expectation are that in the longer term the permitted levels may be increased in line with recommendation by codex but, any changes are unlikely to take place for the next 12 months.

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