Sultanas: TMO to hold on to supplies
Mundus Agri: Although the TMO is expected to continue to buy sultanas and raisins, this does not automatically mean that these stocks will immediately become available again next year. Especially since the state-run organization will have to sell the remaining supplies from last year's crop first. With exports performing well and the TMO actively buying it will be interesting to see what volumes will be available for export.
Exports up on last year
Exports gained additional pace last week as Turkey shipped 5,589 mt of seedless dried raisins overseas, which is up on the 3,956 mt registered in the same week last year. Total exports have climbed to 80,535 mt since the start of the season, which is an increase on last year's 76,936 mt.
The TMO has bought around 80,000 mt of sultanas so far, which still falls short on the 100,000 mt anticipated for the end of the year. Traders expect the TMO to continue buying in 2023 but to a lower extent as most supplies that meet the quality standards have already been sold. The TMO still also holds around 30,000 mt of sultanas from last year's crop, which will be sold first, and will only sell this year's crop if export demand is high enough. Tariş has also purchased 30,000 mt this season so far.
Judging by the volumes exported and bought by the TMO free market supplies presently range at 100,000 mt. Yet, the quality of these remaining supplies is unclear. Organic sultanas are already sold out, although demand was weaker than expected. Overseas buyers prefer spot offers and there still is not much interest in longterm contracts.