Exports in August were a whopping 8,839 tons compared to 6,327 last year and 6,401 in 2019.
We were expecting a strong number given that the markets around the world were empty, and some of these shipments were delayed from last crop due to shortages. Still in a season where total supply is down around 13% compared to last year, to have first month exports up 40% is going to add fuel to the fire.
The market opened about 10% higher than the old crop closing prices with zero carryover, and moved a further 3 to 5% higher over the past two weeks as demand outpaced supply. The Lira has also strengthened some 3% over the past three weeks as growth prospects for the Turkish economy pick up. It is currently trading at 8.26 to the $
For the past 2 or 3 days arrivals in the market have dried up.
The TMO (Government support price) have not stated a buying price yet, if and when they do we doubt that they will be able to buy anything given the lack of slack in the market.
Growers have produced a much higher proportion of unsulphured apricots this year given the premium last year, this will result in less sulphured than anticipated, and a discount for unsulphured.
The shipping situation is not improving, freight raters are sky high and container availability is difficult.
Buyers have been concentrating on early shipments, very little business has been done going foreword, this will soon change as a lot of seasonal tenders are underway.