Dried figs: wide price gaps

Date: 9th November 2022 Category: Latest News
Dried figs: wide price gaps

Mundus-Agri: While exporters in Turkey are busy shipping as many dried figs as possible before Christmas and New Year, suppliers in Iran are assessing the damage caused by storms and floods.

Pre-Christmas sales keep exporters on their toes.

Exporters are extremely busy in Turkey in making sure that their customers receive their shipments in time for Christmas and New Year. Shipments are going well, and the recent price declines may give demand another boost.

Export prices differ considerably depending on the quality and on the supplier.

Turkey has shipped dried figs worth USD 102 million from Aydin to 184 countries since October, mainly to the EU. Although exports reached 14,547 mt on 6 November, this is more than 1,000 mt less than last year. At 2,416 mt weekly exports, by contrast, recently ranged on a similar level as in the same week the previous year.

Extensive damage in Iran

Storms and floods in August, coupled with heavy rains and drought wreaked extensive damage Iran's Fars Province. Local agricultural organizations have now issued estimates on the extent. Storms and flood have promoted fig production to decline by 50% to 19,000 mt in Estahban county, and the quality of around 50% of the figs produced here is also impacted. If temperatures continue to drop, the damage will increase. Financial damages amount to USD 48 million. In Neyriz county, drought and heavy rains have even caused production to decline by 70% to as little as 1,500 mt. Farmers completed harvesting in October.

The arrival of the new crop initially boosted export demand and drove up prices. Supplying figs from Iran is, however, far from easy as the government has frequently shut down the internet in recent weeks, which has disrupted exports. The ongoing protests throughout the country and the regime's violent response are also creating a highly uncertain situation. Although prices started to decline again last week, they still range much higher than last year.