Turkish Apricot Update 11.01.24

Here is an overview of the current Turkish apricot market:

• Exports for December 2023 were 7,027 tons, which is down from 10,013 tons the previous year. There has also been a drop in exports YTD from 41,756 tons last year to 32,163 tons now- a drop of 23%. This is in line with the reduced overall supply, however, and it is estimated to be between 25-30% down on the 2022 crop.
• The market at the start of 2024 has been active, with buying for the first half of 2024 taking place in recent days. There are high interest rates that are discouraging exporters from covering forward sales, but the market remains steady.
• Supply of good quality remains tight, especially medium and small sizes. Natural apricots are trading at a 20 to 30% premium to sulphured fruit. Organic is unavailable.