Turkish Apricot update 08.12.23

Date: 8th December 2023 Category: Latest News
Turkish Apricot update 08.12.23


Year-to-date, exports have experienced a 23% decline. This with the overall supply reduction estimated at 25 to 30% compared to the 2022 crop.

The price of sulphured apricots has shown no significant change post-harvest. Prices remain at 150,000 Turkish Lira in Malatya for most sizes of first-class raw material, with notable discounts for blemished fruit. In terms of USD, prices have slightly decreased due to the gradual and controlled weakening of the Lira.

Buyers are predominantly securing supplies for only a month or two ahead, which means the current state of supply and demand appears relatively balanced. Packers are hesitant or financially constrained to opt for high-interest credits, leading them to engage with the market intermittently based on the necessity to cover shipments.

After years of experiencing low prices, natural apricots are now commanding a significant premium over the sulphured variety. This shift has led many farmers, especially those engaged in organic farming, to abandon the production of sulphured apricots. The scarcity of organic material has prompted organic buyers to shift their preference to conventional natural fruit. The natural raw material is almost sold out.

Anticipating the market dynamics in the upcoming months, we don't foresee any substantial changes until the bloom in April. However sourcing clean raw materials is expected to become increasingly challenging, particularly for small and medium sizes.

via Agrimax