Seasonality of Fresh Pomegranate in Türkiye
According to Ilgim Uygun, Tridge Global Origination Manager in Türkiye, Türkiyes 2022/23 pomegranate harvest is coming to an end. Estimations are that yields are 30% YoY lower than in the 2021/22 season, which was 647,676 mt. The main reason for the lower production of fresh pomegranate in Türkiye was the cold weather in March 2022. Lower production coincided with reduced demand in October, while at the same time, prices in the field doubled from USD 0.19-0.21/kg in 2021 to USD 0.38-0.43/kg in 2022 due to rising input costs.
Adverse weather didn't just reduce the yield of fresh pomegranates in Türkiye in season 2022, but also the size of the fruit was affected. The majority are medium-sized fruit, with large ones scarce. The positive side is that the fruit color is better, which will help traders position pomegranates in the export markets.
In 2021, Türkiye's exports of fresh pomegranate increased by 5% compared to the previous year and amounted to USD 132M. The EU's leading destinations for Turkish pomegranates were the UK, with a 19.9% market share and a total value of USD 16.08M, and Germany, with a 13.7% market share and a total value of USD 11.11M. The US was the biggest importer of Turkish pomegranate, with a market share of 22.4% and a total value of USD 18.08M in 2021., Japan was among the countries with the highest 5-year growth and marked a 160.6% upward trend, proving to be an emerging market for Turkish traders. Although imported quantities decreased by 42.95% YoY from 57,098 mt in 2020, the Russian market is still significant, along with Ukraine and Middle Eastern countries.
Due to the prevailing medium-sized pomegranate, demand from EU countries, which prefer larger-sized fruits, is low. On the other hand, lower quantities and increased input costs maintain high prices. Based on Tridge data, the wholesale price of fresh pomegranate in W1 of November 22 was from USD 0.56-0.60/kg depending on the variety and region in Türkiye.
Türkiye has favorable conditions for growing pomegranates and is one of the most significant producers globally, along with India, China, the US, Tunisia, Argentina, and Peru. The conditions in which pomegranate grows best are warm and long summers, and warm and rainy winters, with particular attention to the fact that the temperature does not fall below -10°C in winter. As for the soil, it prefers different types, from siliceous to heavy clay, while irrigation is mandatory.
Traders expect an increase in demand in December as the holiday season approaches. Increasing gas prices and other transportation costs, as well as costs of storage, will affect the price movement as well. With the increase in demand, the price could follow an upward trend.