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Global: It is bad news if peaches are cheaper than apples in the Turks

Published May 4, 2024

Tridge summary

Turkey is experiencing a significant drop in the export prices of nectarines and peaches, reaching $0.85 and $0.75 respectively, due to an oversupply in the market. This price decrease has been rapid, leading to peaches being sold cheaper than apples, a situation that is concerning for producers in Uzbekistan and Georgia, who rely heavily on peach exports and anticipate a bountiful harvest in 2024. The price drop could potentially impact the market for other fruits as well. In Hungary, the price of domestic peaches is expected to match that of apples by the end of July, with Spanish peaches currently being sold at a higher price.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In Turkey, the export price of nectarines has now fallen to $0.85 and peaches to $0.75. This unprecedented situation occurred yesterday, after the price of the fruit was halved within a single week, making peaches even cheaper than apples. Egypt can no longer follow this price level, as logistics from this country are more expensive. The low price of peaches is also a concern for producers in Uzbekistan and Georgia, as it is their most important agricultural export. Both countries are expecting an abundant peach harvest in 2024, which could further worsen the price situation, and in June-August they also used to compete with Turkey's supply on the foreign market. The only encouraging thing for them is that this year Turkish exports started much earlier than usual, which most likely means a shorter sales season from this direction. Unfortunately, the oversupply of peaches and nectarines may also affect the market for other fruits that can be consumed as alternatives. If peaches are ...
Source: MezoHir
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