Turkish Dried Figs, Market Update

Mundus Agri. With only two weeks to go until Ramadan starts, demand is up for Turkey's dried figs. The presidential elections will also have an enormous impact.

Welcome rain

Growers in Aydin are delighted with the rain that has finally arrived, as any drought concerns have been alleviated for now. Exports are also running at full speed. As Ramadan will start on 23 March, demand is up in the Middle East. Traders reckon that demand will remain high in the next two weeks before returning to more normal levels again. At 1,388 mt weekly, exports have more than doubled on the 610 mt registered last year. Total exports for the season are also up on last year and have reached 41,827 MT.

Elections to have an impact

The general elections, which will be held on 14 May, will also have an impact on the market. The issue is that president Erdoğan needs to win at least 51% of the votes to stay in power, and the election will certainly shape the course of the Turkish lira. Although the demand is high, export prices have remained firm.