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New seasons prices firm but steady Exports of Turkish sultanas to UK have reached 56,357 mt with the total figure of 264,000 mt.  The expected tonnage of the new crop is still uncertain, but latest estimates suggest this will be at least 260,000mt, so with a small carry over this should be sufficient to meet likely requirements. Most Turkish sultanas packers are however very bullish at present with prices, anywhere between SUD 1600 – 1700 pmt fob Izmir for specially cleaned standard number fruit.  Most UK importers however appear to be taking a conflicting view  believing  that the first quoted prices are too high and that market will gradually reduce once the fruit is safely harvest and first shipments are have been made.  This is matter for conjecture at this early stage, as although everything appears to be going to pan with no rainfall reported and hot sunny drying conditions, much can still happen between now and early September.   Exports of Turkish figs have reached 29,000 mt with fig paste adding a further 5800 mt and other manufactured products a further 2000 mt.  This figure should be overtaken this year as the expected crop is thought to be anywhere between 45,000 50,000 mt.  Again however it is still to early to accurately predict the final tonnage and like the sultanas and raisin market local packers still believe the prices will remain at today’s high levels.  This seems unlikely, although with the Ramadan religious holiday and the need to get first shipments away on a timely basis it may take a few weeks for the market to settle down. As reported last week the Californian raisin market remains in a state of flux as packers await the decision by the RAC Board on the export program for forthcoming season.   In theory the present program will expire at the end of this month, but in reality most packers are continuing to offer forward, albeit with some caution.  Prices for select raisins remain steady at between $0.72 – 0.74 per Lb C&F Felixstowe  and it would seem unlikely that there will be a major change before the new crop is harvest. The Greek currant crop is progressing well with prices broadly unchanged at Euros 1600 – 1650 PMT Fob for provincial fruit.  The main concern form UK customer is that the decline in quality following the removal of the old system of retention, which prevented unsuitable fruit from begin blended with better currants.  The further removal of the classification of the different areas may have a similar detrimental affect.  The Greek industry is therefore predicting  a period of crisis and change and it seems likely that the number of packers will gradually produce.

George Harker & Co Ltd Park Drive Industrial Estate Braintree Essex CM7 1AW Tel 01376 321 272 Fax 01376 552 160

               

Demos Ciclitira Head Office - London Capitol House, 60 - 62 Leman Street London E1 8EU TEL 020 7626 FAX 020 7702 0560