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Market Reports

Turkish Apricot Update 05/10/2020

  • Exports in September were 9,339 tons, compared to 11,363 tons last year.
  • Year to date exports are 15,666 tons compared to 17,774 tons last year a decrease of 12%.

Average price for whole apricots year to date is $3,405 FOB compared to $2754 same period last year.

Export numbers are still fairly strong considering supply is down around 30% this year, however we think  the current price should over time balance supply and demand.

The TMO announced buying prices on the 21st of September some 10% above the prevailing market, and the market immediately corrected to match the TMO levels.

Malatya Borse Warehouse where TMO purchases will be stored.

The TMO are initially planning to buy 5,000 tons of apricots, to date they have only covered a small fraction of this amount as the supply situation remains tight as those growers who needed to sell have already done so. If the TMO are unable to cover their target volume there is risk that they will increase prices further for political gain, especially as the  current prices do not seem to be significantly hurting exports.