15 Jul Market estimation report for the Turkish Sultana Raisins New 2019 Crop

Last estimations for the Turkish Sultana Raisins New Crop, 2019

Pangea Brokers is happy to share with you some market estimations for the Turkish Sultana Raisins New Crop, 2019.

If there will be no harm due to bad weather conditions during the following two months, probably the real Sultana Raisins new crop will be higher than 300.000 mt.

Some packers started to offer already new crop at lower prices than current crop.

However those prices should be related with the positions and/or the predictions of the packer since no parameter is clear yet, but so far prices for the Turkish Sultana Raisins will remain at the same level than current crop.

Other important facts to consider are:

• Currently there are not enough raisin at the market
  

The exports of current crop are estimated into 250.000 tons. Considering the 260.000 tons of the estimated 2018/19 crop size, the free market stocks must be over. The domestic consumption is approximately 30-35.000 tons. so the carryovers must have been used as well.

So the opening of 2019/2020 crop will be without any carry over.

• Turkish Lira is gaining value against USD compare the previous months

In the recent days USD getting weaker contrary the expectations against Turkish Lira.

Such trend first time for 7 months is making exporters confused and they are hanging in the balance of which rate or currency trend to consider for pricing.

So during the following weeks, we will see how the new crop evolves and we could establish the available quality and how the market will react concerning prices.

If in the meantime there is some additional information that you need, just let us know. We are glad to be at your disposal.