Dear All,

 

I hope all’s well with you.

 

First of all, we would like to wish you a Merry Christmas and Happy New Year with your family… I wish the new year will bring health, happiness, success and peace to all of us… Thanks for your great cooperation in 2018 and hope to extend our fruitfull business at the new year together.

 

We would like to update the actual market situation and prices to get ready after the holiday season...

 

The market is stabile for sultanas presently. The raw material prices of Type 9 sultanas is settled at Izmir Bourse between 9,5 – 10 TL/Kg levels this week. It feels like the continuous increase on raw material prices since October 2018 is slowed down and the market is balanced at current levels presently.

 

The availability of the raw material is still tight in the market as the farmers are not very much willing to sell their stocks with the expectation of even higher prices in the coming weeks. It’s expected that the demand for sultanas will rise up by the beginning of January 2019 and the subject situation may effect the raw material prices directly.

 

The US$ currency is staying around 5,3 TL levels these days which is a pretty low rate comparing early season rates at 7 TL... The low US$ currency is effecting the sultanas market in a negative way for sure. Turkey will have an election in March 2019 and it is expected that the currency will not move so much before the elections. In this respect, we expect the sultanas prices stay at today’s levels during the first quarter of 2019. From now on, the direction of the currency will continue to be one of the major factor for sultanas pricing in the coming days which is pretty difficult to estimate...

 

The bloom for next crop sultanas will take place during March – April 2019 period. The weather conditions during these months will be effecting the market directly. In case of bad weather conditions and smaller crop signals for next season, the current crop prices will be effected negatively and the market will increase accordingly. In case of positive developments during the bloom period, we can expect an easier market for the rest of the season step by step.

 

The light color sultanas are extremely limited in the market this season. Type 10’s and 11’s are very rare therefore the price gap between these types and Type 9 sultanas is pretty big this season. Frankly speaking, the colors of Type 10’s and 11’s are not like the previous season as the general colors of crop 2018 sultanas is a bit darker than usual years. Aegean Exporters Union declared the subject situation last month and increased the color tolerances of crop 2018 sultanas from %10 to %15 for your info.

 

Thompson raisins are more available this season as the farmers preferred to produce sufficient quantities for crop 2018. The price of Thompson raisins is also increasing in parallel to the sultanas pricing these days.

 

In conclusion, we are expecting a smooth and stabile market for the first quarter of 2019 on sultanas. The elections in March 2019 will effect the currency and the bloom of next year’s crop at the same period will determine the direction of the raw material prices in the market for the rest of the season. The sultanas/raisins prices are increasing almost at all origins worldwide therefore the prices of Turkish sultanas can still be considered in good level presently.

 

We suggest all our clients to cover up their needs for the 1st quarter of 2019 as the market tendency is upwards for the coming weeks.

 

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

 

 

TURKISH SULTANAS	01.09.2017-22.12.2017		01.09.2018-22.12.2018
	Export Quantity (mton)	Average Export Price ($/mton)	Export Quantity (mton)	Average Export Price ($/mton)
	105.149	1.515	106.463	1.849

 

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$ 2.100.-/Mt.
• Standard 9 Grade A Sultanas at US$ 2.125.-/Mt.
• Standard 10 Grade A Sultanas at US$ 2.275.-/Mt.
• Standard 11 Grade A Sultanas at US$ 2.325.-/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 2018, 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