Turkish Apricot Update

Date: 8th April 2020 Category: Latest News, Market Report
Turkish Apricot Update
  • Exports in March were 8,836 tons tons, compared to 8,396 tons last year.
  • Year to date exports are 75,727 tons compared to 75,275 tons last year.
  • Average price for whole apricots year to date is $2767 FOB compared to $2742 same period last year

March has shown strong exports throughout, projecting a total export of 100,000 tons. This will entail a tight transition to new crop.

The Bloom is ongoing in Malatya and in some low lying areas the bloom is complete. There was some frost and snow early on, and a lot of rain throughout the bloom. However, it is too early to make any predictions on the quality of crop, but advisable to consider that conditions were not ideal.

The Corona virus has effected the market, the Turkish Lira has been weak over the past month due to Dollar strength of the back of the virus. At time of writing it was 6.74 to the $ a fall of 9% over the course of the month.

Regulations have been put into place to protect the citizens, social distancing paired with the influence of fear has more or less shut down the central apricot market - Sire Pazar. The above combined with it being the middle of the bloom and the end of the season has led to very little activity.

Despite the regulations put in place, workers at food factories are still able to continue to work. However many have decided not to do so, preferring to take precautions and stay at home. Factories in Malatya are reporting that up to 50% of workers are opting to stay at home. If this continues for a prolonged period we will see effects in supply. This will be most apparent if it continues into the summer, as all the apricots are harvested, dried and pitted by hand and require a large influx of seasonal workers.