Turkish Vine Fruit update 08.02.24

Excluding processing costs, margin, finance costs and the cost of pallets, raw material Type 9s are now priced at 70 Turkish Lira per kg. In previous years, the added cost to get an export price on top of raw material was between $300 and $350 per tonne. However, with increased costs across staff salaries, energy, packaging, machinery and borrowing costs it now means packers are asking $400 to $450 per tonne.

Raw material availability is decreasing all the time, and it's suggested that within the next 6 to 8 weeks, it will be non-existent. Any parcels that may become available will be highly sought after, and with interest from several parties, this is causing prices to continue upwards.

There are no signs of these price increases dying down before the new crop will be available in September. It's going to be tough in the coming months from Türkiye, but some packers do have unsold stock in hand. What that quantity is and how long it'll last is unknown.

The UK is about 14% down year on year for exports from Turkey. Buyers are very reluctant to commit to anything long-term which will mean that there shouldn't be large rushes into the market to cover large orders at a time.