Turkish Apricot Market Update 19.02.24

Strong Demand Amidst Shrinking Supply

In January, exports amounted to 6,477 tons, marking a 12.5% decrease from last year's 7,419 tons. Year-to-date exports stand at 38,640 tons, down 21.5% from the previous year's 49,175 tons.

Despite a notable decline in overall supply by 25-30% compared to the previous year, January exports surpassed expectations with only a 12.5% decrease. This performance has led to a tightening of the market by 10-15% over the past fortnight, attributed to the continuous dwindling of clean fruit supply.

Packers are facing shortages as retailers transition to new crops, exacerbating the challenge/ Compounded by tight credit conditions and high interest rates in Turkey, forward sales coverage has become nearly untenable, necessitating reliance on the spot market for shipments.

Unseasonably mild weather in Malatya in recent weeks has prompted early swelling of flower buds, possibly leading to bloom before the end of February, a month earlier than usual. While this advancement presents opportunities, it also elevates risks of rain damage, frost, and disease, potentially altering the typical bloom timeline.

via Agrimax