Sultanas

May 30, 2017

Turkish sultana’s prices continue to remain depressed when we look at the five year
average. With optimum weather conditions thus far the 2017 crop points to another large
crop provided there are no surprises in the lead up to harvest. There have been some
minor movements in price due to the appreciation of the TRL v USD. Exports continue a
brisk pace and are 40% above this time last year with estimates placing carryover stocks at
less than 50,000mt. Major competing origins in Iran & China have finally dropped their
prices below Turkish levels due to sluggish demand which saw their inventories build up
due to an extended period of uncompetitiveness.