Dried Turkish Sultana Prices Decrease in UK Due to Large 2022 Harvest Expectation

Prices of RTU Sultanas from Turkey DDP (Delivery Duty Paid) UK decreased from USD 1.68/kg in W34 to USD 1.34/kg in W36 which is a 20% price drop in a two week period. The price decrease is the result of a 70,000MT carry over from the 2021 crop along with an estimate of the new season crop being over 400,000MT in Turkey. The expectation is that Turkish RTU Sultana prices are likely to continue its downward trend due to the large 2022 harvest expectation. However, China has Sultanas available at USD 1.15/kg DDP UK which comes in lower than current Turkish prices.