Dried figs: high freight costs curb demand

Date: 22nd June 2022 Category: Latest News
Dried figs: high freight costs curb demand

High freight costs for exports from Turkey dampen export demand for dried figs. Buyers of Iranian goods are also less interested in buying than last year. Many buyers are waiting for the new crop.


Fruits benefit from warm temperatures.

In Aydin, the main growing region for Turkish dried figs, the fruits are benefiting from the warmer temperatures. Market players had initially feared that there would be delays in fruit formation due to the cooler weather of the past weeks. Now it is reported that the fruit set is already forming on the trees in the valleys and in the coming weeks this should also be the case up in the mountains. For a good production, however, July and August must not pass without sufficient rainfall.

Export prices can vary considerably depending on variety and supplier, as there are less and less goods available in the market. (Mundus Agri) 


Freight costs could rise further

Weekly exports, at 829 mt at last count, were slightly behind those of last year. In addition to the dwindling supply, the high freight costs could also have an impact on demand. A total of 58,630 mt of dried figs and dried fig products have been shipped overseas since the beginning of the season, compared to a good 1,000 mt more this time last year.

Market players expect freight costs to rise further at the beginning of the new season. (Mundus-Agri) 


Iranian exports remain behind last year

May exports of Iranian dried figs reached 627 mt valued at USD 1.91 million. While shipments regained momentum month-on-month, export volumes still lag behind last year's levels. In May 2021, 879 mt of dried figs worth USD 2.67 million were exported. The reason for these declining figures is not only the lower availability of goods in export quality, but also the wait-and-see attitude of buyers. Given the current situation, many prefer to wait for the new crop, which should be available in about two months.

Prices remained unchanged in the Iranian domestic market, but the further depreciation of the Iranian rial caused export prices to decline.  (Mundus-Agri)