Now we see more activities in general, we also notice more fluctuations in the prices. After rather unchanged pricing of most products - at higher levels - for a longer period, we now see all of a sudden some movements in the markets. Partly caused by a good outlook for the new crop (Turkish apricots) and partly caused by picking up of demand (Chilean raisins).
Buyers are still very cautious, but more than a few months ago, dare do take positions for the longer period.
The dollar tends to be a little stronger against the euro, making imports becoming more expensive.
Dried Fruits
Apricots
Even the most bullish Turkish shippers cannot deny we are heading for a big crop. Consequently prices came down below the US$ 3000,-- level and additional discounts for the new crop. We think however to make use of these speculative offers makes only sense if contracted by reliable sellers, as we have seen now year on year the attitude of some handlers when prices go up. Mind you the chance for some rain- and hail damage is still alive. One practical problem might be the first shipments: the perfect weather conditions have advanced the growing and the initial delay due to the cold spell before blooming will be almost faded out. This means first shipments can be as usual end of July, however at that time the Ramadan period starts, meaning there will not be enough workforce to handle the incoming crop and prepare for shipment.
Apples
The market for Chinese apples is dominated by the second hand sellers, as China is more or less sold out. Chilean prices remain very firm as there is ample supply for the drying sector at decent prices, as higher prices are paid by the fresh- and juice traders.
Bananachips
Prices remain unchanged. Supply is sufficient and actually the prices for bananas have dropped somewhat, but the additional costs for energy, labor and transport are leveling out this decrease for the raw material.
Cranberries
Unchanged.
Currants
Not much activity to report as demand for currants slowed down and will be in the spotlights again after the summer. South Africa sold well in the absence of Greece as a heavy seller.
Pears/Peaches
With the Chinese pears and peaches virtually banned from the European market due to a rigid guideline followed up by some Member States, the European packers of mixed fruits are looking for alternatives. Most of them are rather expensive (e.g. South America and Africa) or are having another appearance (low sulpher).
Prunes
The Californian prices are somewhat firming due to good sales in their export markets, other than Europe. This EU-countries are more and more focusing on Chilean pitted prunes due to the zero-tariff for import duties (against 9,6% for Californian origin). Meanwhile the
Raisins
Most remarkable development has to be reported from Chile: virtually the cheapest raisins so far, all of a sudden there is awareness the crop is less abundant as expected and processors of dried fruits did abstain from paying the higher prices, however honored by the wine industries. As a consequence there is about 20/30% less available for Thompsons and Flames, so we are already in the beginning of the crop confronted with shippers already sold!
In Turkey we see a somewhat opposite movement on pricing. The grapes are developing well under perfect weather conditions and it is expected a good crop is ahead. Consequently forward and actual pricing are easing somewhat.
Californian prices are a broken record with unchanged price levels.
Iran has still some sultanas for sale, but is completely sold with golden raisins. Last prices indicated were even more expensive than the South African choice grade!
Speaking of South Africa: most buyers have bought very cautious, as nobody trusts the high price levels. Meanwhile we have seen some discounts on the opening prices from South Africa, a phenomenon we have not seen before so early in the season. However the crop has been good, with especially goldens well in supply.
Nuts
Walnuts
IN spite of the high prices the relatively expensive Chilean walnuts have been contracted quite well. Demand for Californian walnuts is still slow, causing second hand sellers to offer somewhat more aggressive. Actually Californian shippers do not care as they are pretty well sold. We therefore expect prices to remain firm till the new crop and we may even see another increase after the summer to bridge the needs till arrival of the crop 2012.
It is too early to make any projection on the coming crop, though so far so good as the risk of frost has theoretically passed.