This month’s reports confirmed that January year on year shipments were up significantly, with Jan 2019 at 209m lbs against 193m in 2018.
Also, it now appear certain from new crop receipts that the 2018 crop will be almost exactly the same as the 2017 crop at 2.24/6b lbs.
The fact that demand is so active shows the extent to whihc gloabl demand in 2019 is uncovered. It also highlights how much the Californian frosts last March impacted on the the developing crop bloom
It is clear that the record 40,000 to 45,000mt production of Turkish raisins has been at the expense of the sultana production. This was already reduced, and we have now ended up with a situation where sultanas now look to be 1000,000mt shorter in volume than the previous season
Turkey is now talking openly about the real prospect of a crop sell-out long before the next harvest. While such rumours rarely come to fruition, this year it seems more likely to this scenario become a reality.
Mark Setterfield – February 2019