Dried Dates, Market Update, July 2023

Production Volume and Quality

The volume of dates produced this year remains comparable to the previous year, and there is no notable decrease in yield. As for the quality, we expect it to be consistent, with approximately 40% of the harvest being classified as select and grade, and the remaining 60% categorized as GAQ (Good Average Quality) and FAQ (Fair Average Quality). The forthcoming high humidity and warm weather forecast for August in the regions where dates are cultivated may result in meatier dates, while in other areas, the meatiness of the dates may not be as pronounced. Nevertheless, we can confirm that other factors influencing date production are currently balanced.

Harvest Timeline

The date harvest is scheduled to commence in 45 days, and we anticipate it to last for approximately one month. During this period, we will closely monitor the progress to ensure a smooth and efficient harvest.

Price Negotiations

At present, the export union is in active negotiations with the farmers' union and the government to determine the purchase price from farmers for this year's date crop. Suppliers are optimistic that a decision on the purchase price will be reached within the next week or two. This collaborative approach seeks to ensure fair compensation for farmers while maintaining competitive pricing for the export market.

Conclusion

Suppliers  are confident that the 2023 date crop will be a success. The volume and quality of the harvest are expected to be consistent with previous years, and traders are optimistic that a fair price will be negotiated for the farmers. W