Dear All,

I hope all's well with you.

The market is stabile in Turkey these days. The raw material prices increased at Izmir Bourse by %2 and Type 9 Sultanas price reached to 4,3 TL per Kg. The increase on raw material prices depends on the strong demand from the buyers. The suppliers have long term contracts and need to cover their open positions as well as the new contracts with the importers are supporting the increase on raw material prices in Turkey. We are expecting the subject price movement to continue in the coming weeks.

On the other hand, US$ currency is staying strong against Turkish Lira at 3,90 levels presently. The subject high currency level is absorbing the raw material price increases therefore the final export prices to the importers do not change dramatically. If the US$ currency changes it’s direction in the coming days, it may result in sharp price increases on Sultanas...

Turkey is still the cheapest option worldwide as Iran is not willing to sell it’s product below US$ 1.600.-/Mton levels and Californian Thompson Raisins are pretty expensive as well. The subject situation will definitely increase the demand after January 2018 for Turkish product and we expect the prices to move up step by step...

Small size Sultanas and Thompson raisins are pretty limited in the market presently. Type 11 Sultanas are also getting tight in the market. Otherwise all types and sizes are available presently.

In conclusion, the Sultanas prices are still very reasonable and we suggest our clients to take their positions for the rest of the market at current levels.

You can find below the recent export figures for your evaluation.

TURKISH DRIED SULTANAS	01.09.2016-18.11.2016		01.09.2017-18.11.2017
	Quantity (mton)	Average Price ($/mton)	Quantity (mton)	Average Price ($/mton)
	81.992	1.621	77.054	1.503

Please kindly find below our indicative price levels for the main types of Sultanas just to update your information.

• Standard 8 Grade A Sultanas at US$ 1.425.-/Mt.
• Standard 9 Grade A Sultanas at US$ 1.450.-/Mt.
• Standard 10 Grade A Sultanas at US$ 1.500.-/Mt.
• Standard 11 Grade A Sultanas at US$ 1.550.-/Mt.

* You can add US$ 25.-/Mt. for Medium size Sultanas;  US$ 15.-/Mt. for Jumbo size Sultanas;  US$ 15.-/Mt. for RTU (Ready To Use) grade Sultanas on above prices according to your needs.

All prices are FOB Izmir, Prompt shipments, Crop 2017, Subject To Final Confirmation.

If you can let us know your specific inquiries, we can give you concrete offers with better conditions. Please do not hesitate to contact us if you need further assistance from us.

Looking forward to hear from you soon.

Best regards, 
Yasin Durmus 
Managing Director