The big news since our last report are the two successive, and surprisingly optimistic Californian new crop estimates that have been released.
The first being the unofficial “TNT” report, which surprised everyone at 2.96b lbs (surprising, in comparison with this year’s 2.55b lbs).
Although there is a good crop coming in Turkey, and total production (for sultanas and raisins) should be another crop over 300,000mts, it is not clear what volume Turkey intends to produce as raisins, given that the larger their raisin production, the more this depletes their sultana volume.
As China has emerged first from their lockdown, so their domestic market was quick to fire back up, and with it saw a surge in demand for their home grown products, like Pumpkin seed.
Mark Setterfield – May 2020