I hope all’s well with you.
The market is pretty stabile at Malatya these days. The raw material prices are staying at around 11 TL/Kg levels with the regular demand from the buyers presently. It feels like the continuous increase on raw material prices since October 2018 is stopped and the market is balanced 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 dried apricots 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 apricot 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 apricot 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 apricot pricing in the coming days which is pretty difficult to estimate...
The bloom for next crop apricots 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 big sizes are less available in the market therefore the price gap between big and small sizes are getting larger in the market presently. Natural apricots are pretty much availabile without any problem right now...
In conclusion, we are expecting a smooth and stabile market for the first quarter of 2019 on apricots. The elections in March 2019 will effect the currency and the bloom of next year’s crop at the same period will determine the market for the rest of the season.