Prices from Turkey have remained stable for the past month, this is at the highest level
that we have seen all season but stability is always positive for the industry. The 2018
crop is already being discussed as being 10% lower than last season due to the higher
than normal temperatures over the winter months, that didn’t allow the chill hours to get
into the vineyards that usually deliver a higher yielding year. Exports continue to outpace
last season as Turkey is being looked as the replacement for much higher priced
American product, this can be seen with significantly increase exports into Asia which
has traditionally been a USA controlled market. Unless we have some unfavourable
weather conditions, which are possible, then prices should remain relatively stable over
the next few months.
The recent frost that hit the Almond crop just missed the Raisin vineyards as they hadn’t
started budding just yet. This would have been a catastrophe for the American crop as
they would have been hit with two bad years in a row during a time where growers are
actively moving towards more profitable tree nuts. Prices have remained high as good
quality raw material is difficult to come by because of the rain they had during the drying
period last season, this has multiple knock on effects – product is generally darker than
previous years, yields a decreased and processing costs for packers are increased.
On a more positive note, the Australia crop is looking very healthy with little negative
weather conditions to report during the season. Most vines have been cut, so as long as
the weather in the Mildura region continues to stay warm and dry product should be
harvested in the next couple of weeks. With the dry season that we have had the product
mix will shift slightly and we will see lighter fruit this year compared to last year.