Turkish Apricot Update 08.03.24

In the realm of agricultural exports, February saw a remarkable uptick in shipments, with figures soaring to 6,542 tons compared to the preceding year's 4,671 tons. This accounts for a staggering 40% surge, a statistic that undoubtedly captures attention within the industry. However, the broader picture reveals a nuanced narrative. Year-to-date exports paint a slightly different story, tallying 45,182 tons, a notable contrast to last year's 53,846 tons. This represents a decline of 16%, signalling a shift in market dynamics that merits closer examination.

As to what caused the notable surge in February, the answer lies in the strategic manoeuvres of the importers, who eagerly sought to secure their requirements for the latter half of the season. As demand surged and supply dwindled, prices naturally followed suit, experiencing a significant uptick. These factors underscore the delicate balance that governs the agricultural export landscape, where supply and demand are always dependent on each other.

Complicating matters further is the early onset of bloom in low-lying areas, a development that has set alarm bells ringing among growers and traders alike. This deviation from the norm, occurring approximately two weeks ahead of schedule, introduces an element of risk into the equation. While it may serve to sustain prices at elevated levels throughout the frost risk season until May, there looms the question of whether there will be any substantial fruit remaining post-May.

Navigating the ever-shifting currents of supply and demand requires a keen understanding of market trends and a willingness to embrace innovation. As we march forward into the coming months, the industry finds itself at a crossroads, where strategic decision-making will undoubtedly shape its trajectory.

via Agrimax