CATZINFO – DRIED FRUITS
At the end of the holidays we see quite some hectic in trade. Buyers are desperately looking for products to bridge the gap till the arrival of the new crops.
Reason being a wait-and-see attitude as prices seem to weaken for a couple of products or simply because some products were sold well before the end of the season.
Also the geopolitical situation made most buyers act carefully. The trade war between USA and China remains unpredictable as well as the Brexit developments which seems to get out of control in the UK.
The Turkish Lira firmed last week by 3% against the US-dollar, but this may change next week in view of the volatility of this currency.
The Turkish conventional apricots are looking well quality and quantity wise. Prices look stable and we expect no major changes, except for eventual currency surprises.
Naturals and organic apricots however are scarce. Substantial premiums are asked for these types.
For naturals farmers were afraid not to get enough premium to make it worthwhile to keep the fruits natural, as last year prices of natural and sulphered were close.
The regions which are typically growing organics suffered from rains so yields are rather disappointing and prices may be the double of the conventional types.
The new crop prices from China are somewhat lower, but problem is the empty market.
In Europe stocks are close to zero and it will take at least another two to three months before the new crop will arrive in Europe.
Needless to say the Chinese exporters are firm on quick shipments out of the new crop.
The backlog in production is dominating the market for bananachips from the Philippines. Though prices remain stable on high levels, new orders are confirmed only for Nov/Dec shipments and some already sold till end of the year.
We therefor will see a firm spot market in Europe at least till the beginning of next year.
Prices for the new crop currants have softened as it is expected the yield will be bigger. The harvest and drying has started and we expect first shipments end of this month.
As traditional demand for the Christmas period is also known in Greece, we expect prices to remain stable till end of the year.
The first shipping date is set at Sep 26th, but as usual in the last years, some shippers will send trucks somewhat earlier to enjoy a premium of the first arrivals.
The crop is looking good with an excellent quality.
For papaya and pineapple the pipeline is empty. New crop will be shipped only end of October or early November and capacity for these timeslots are already fully booked.
Prices for spot material are obviously rather high and will continue to be so till end of the year.
Ginger will become scarce with again higher prices.
Market steady with Chilean shippers selling out trying to have an empty warehouse before the next season.
Prices are stable.
The French crop is a little disappointing with smaller sizes in majority.
Both South Africa and California have lowered prices to move the bigger quantities. California is reporting a somewhat smaller crop, so this may bring the downward trend to a standstill.
Turkey is having a large crop, which caused prices to weaken as well. The Turkish shippers will not produce too much Thompsons at these pricelevels for this product and focus on sultanas, which therefor will be in good supply. At the moment the government is trying with artificial measurement to reverse the downward movement, by ‘imposing’ minimum sales prices.
However this only works on the Boursa, whereas a large part of domestic sales goes outside this marketplace.
Chile is well sold this year and prices for the jumbo sizes have firmed.
The disappointing objective estimation of 630K tons was well below the first subjective estimation (691K) and last year’s production (676K). Shippers withdrew their offers and it is expected the market will re-open after yesterday’s (Sep 5th) meeting of the walnut handlers. We will report on this in our next issue. For sure the ‘new’ prices will be well above the new crop prices prevailing the last weeks.
The spot market in Europe is tight with a lot of demand to cover the time till the first arrivals.
Chile is well sold on the hand cracked material.