With the ‘not best ever’ INC-congress in Chennai behind us, we are going into the holiday season. Nevertheless markets are active with interest in both spot and long term positions. Most markets are rather volatile in the last months, with some bigger discrepancies between spot and new crop prices.
From Brussels we hear the Member States will vote early June about the placing of Turkish and Iranian vine fruits on the ‘high risk’ list (Regulation 669/2009) for increased (and costly) controls for Ochratoxin. In case of such a decision this will already enter into force July 1, 2017 most probably.
The dollar is rather volatile these days and daily changes of more than 1 percent makes final prices in euros also varying.
The drop in prices, certainly for current crop has stopped. The carry out seems to be manageable and Turkish exporters feel there is still some demand and try to sell at higher prices. On the other hand the new crop is looking good and prices for the crop 2017 are somewhat below those of current crop. The temperatures are lower than usual, which may cause the crop to be a couple of weeks later on the market. A forecasted 150.000 mtons is the common figure mentioned and will be enough to meet demand. This quantity needs to be sold at ‘easy’ levels to move the bigger part before the next crop 2018.
Apples As mentioned before the situation on Chinese apples is getting tight. Offers for rings are already exhausted and prices increasing weekly. With about 5 months to go before the new crop will be available in Europe, firmer prices for available product will not be a surprise and we recommend to have a look at your needs till end of the year
The market for bananachips has changed somewhat. Did we see prices gradually coming down in the last months, currently exporters have increased prices, The supply of green bananas is disappointing and prices for coconut oil (for baking the bananas) has created a sudden firming of the market with higher prices. As most buyers had bought ‘hand-to-mouth in a down going market, we expect some pressure on the available positions nearby. No need to explain what will happen with the prices.
Now demand has fallen as usual during summer, prices remain stable but still firm. Currants are way more expensive than raisins/sultanas at the moment.
Prices for pineapple are stable and we do not expect any surprises till the new season in October.
A similar story for the papaya. Mango is firm though still well available.
Coconut remains firm equal to the high prices like dessicated and coconut oil due to great demand worldwide.
Prices in Chile for dried prunes are gradually firming now some bigger sizes are getting scarce. Most exporters are well sold and there are hardly any bargains anymore.
In Turkey the ‘official’ estimation of the crop is set at 274.000 tons, which would mean a slightly smaller crop than last year. However he carry out is expected to be over 50.000 mtons, so total supply will be well over the 300.000 threshold, being more than enough to ‘feed’ demand. Prices are somewhat stabilizing, mainly due to a somewhat firmer Turkish Lira against the dollar. Prices are very attractive at the moment and some covering is recommended.
Californian prices are on the rise again. Sales are going well and Californian exporters making use of this situation by increasing prices. From Chile not much to report. Prices are stable and expect for jumbo goldens, which are rather expensive, all other varieties are well available at decent prices. Same for South Africa, which is selling on a regular pace, with most probably the Thompson to be sold as one of the first types.
All origins are short on higher qualities (light/extra light). Prices are rising daily and worldwide we see no improvement till the new crops from the Northern Hemisphere in Sep/Oct.
California is surprisingly sold on pieces and also the higher percentage halves are scarce.
Prices have firmed for available material. The new crop is looking good, but problem is this will be only available end November/December on the European markets! On top this will arrive in an empty market and we do not have to teach the Californian industry how they could use this in their marketing…….
In Chile handcracked material is running on its end and hardly available anymore. Prices firming.
Also Eastern European sources – usually a cheaper alternative – have almost nothing to offer, other than at ‘Californian levels’.