Firm Market - Dwindling Supply
Exports in January were 6,477 tons compared to 7,419 tons last year a decrease of 12.5%
Exports year to date are 38,640 tons compared to 49,175 tons last year, a drop of 21.5%
January exports were ahead of expectations, given the total supply is 25 to 30% less than last year, shipments were only down 12.5%
The market has firmed by 10-15% over the past 2 weeks as supply of clean fruit continues to dwindle.
Packers are likely to be short as retailers have covered through to new crop and some even beyond. The tight credit situation and high interest rates in Turkey has made it near impossible for them to cover foreword sales, forcing them to rely on the spot market as shipments come due.
The weather in Malatya has been unseasonably mild over the past few weeks and the flower buds have started to swell. If this continues as the forecast suggests, we will start to see bloom before the end of February, a month ahead of usual, leaving the orchards at higher risk of damage from rain, frost and disease….the new normal ?
