The Greek currant market remains unchanged with offers of good quality Provincial fruit available between EUR1,350-1,400 (USD1,462-1,517) per tonne fob Piraeus, with premium grades such as Vostizza at a premium of EUR100-150/tonne on this figure.
The use of Greek currants has seen a resurgence over the past few months due to their very competitive price. Progress in the longer term seems likely to be slow as this year Greece has recorded a much smaller tonnage due to earlier weather problems. If present demand continues, there should be sufficient fruit available to meet forward orders until the new crop becomes available in September. Prices of Greek currants are expected to remain stable up until this time. The increase in the value of the euro against sterling has had a negative impact on the costs of currants for UK buyers, but even so currants still remain the cheapest of the three types of vine fruit traditionally used for Easter baking. This year sees the earliest Easter holiday for many years, which means that there will be a shorter time for retailers and manufacturers to market and sell traditional Easter bakery products such as hot cross buns. This may reduce demand for vine fruits but hot cross buns, Simnel cakes and other seasonal lines still retain their popularity.
Credit… Andrew Ciclitira