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CCI dried fruits: Dried apricots update - November 2021

The ongoing devaluation of TRY (now standing at more than 11 TRY per USD) has ensured that the reductions in export prices wanted by buyers have taken place. Nevertheless, the future price development remains unclear for the time being due to the volatile local financial situation.

Strong global demand

Turkish market players report that farmgate prices remain at their high level of TRY 55-60/kg, but export prices have fallen due to the TRY repeated depreciation. This initially provides some relief for buyers who have struggled with the sometimes inexplicable continuous price increases in recent weeks. Traders report high global demand, including from Arab countries.

As buyers are aware that there are less goods available than last year, they are also accepting the high prices. Despite the higher production volume of 95,000 mt ( compared to the 2020/21 crop of 90,000 mt), total stocks are lower as the new season started with hardly any carry-over stocks, dased on the International Nut and Dried Fruit Council (INC) data.

Dried apricots, no 2 are currently trading at $ ~6,4/mt FOB Mersin, down from $ ~6,7/mt last week. However, volatile lira makes future price prediction challenging.

Turkish exports of apricots continue to be successful. Last week, Turkish exporters shipped 2,227 mt of dried apricots and apricot products overseas, compared to 2,194 mt in the same week last year. This means that total exports since the beginning of the season, at 32,950 mt, are almost 3,000 mt higher than the 2020 exports, which amounted to 29,863 mt at this time (~10% higher export volume). Dried apricots come in whole, diced and industrial grades. Whole apricots sizing is ranging from Jumbo to 8. CCI works with the best Turkish apricot packers to supply our customers with strict specifications. Sulphured Dried Whole Apricots Sizing: Pieces per 1000 grams Size 0: 60-80 pieces

Size 1: 81-100 pieces Size 2: 101-120 pieces Size 3: 121-140 pieces Size 4: 141-160 pieces Size 5: 161-180 pieces

Size 6: 181-200 pieces

Size 7: 201-220 pieces

Size 8 (the smallest): 221+ pieces

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