SOLEIL A.S. Dried Figs - Newsletter
The total quantity of 2015 crop was announced by Izmir Commodity Exchange as 74.505 kg, against 69.731 kg of last year's estimates.
We believe that the crop is much bigger, around 90.000 tons, which means all times record.
It is deliberately under estimated by the Authorities to prevent the price dropping too much. But soon or later, we expect a significant decrease in the current price levels.
Comparing to terrible quality of 2014 crop, we can say that the quality is excellent this year. The fruits have lighter color and high sugar content. The only problem seems the high percentage of split figs in early harvest, but the quantity of sound fruits is more than enough for the market's demand.
The official first export date was announced as October 2nd. If we consider 7-10 days late harvest due to weather conditions, it seems as a reasonable date.
The market opened quite firm. The farmers insist on the same price levels of last year, and some of the traders support them by speculative purchases. In any case, strong US$ rate helps export quotations to be 15-20% cheaper than last year.
Best wishes for a pleasant season !