Good Afternoon,
It has been an unprecedented year for the vine fruit market, with shortages from Turkey and other origins gaining significant market share in the UK. As the season comes to a close, we prepare for the new crop. Here is the latest update:
Turkey Vine Fruit Market
The Turkish vine fruit market experienced a historically small crop due to adverse weather conditions during harvest. Strong domestic demand drove prices up to 125 TL/kg at the peak of the season, easing to 105 TL/kg last month. Currently, there is very little stock left, and packers have largely withdrawn over the past few months.
Despite higher prices, exports remained remarkably resilient until recently. The latest export volumes and values are as follows:
| 2023 CROP | 2022 CROP | ||
| 01.09.2023 -27.07.2024 | 01.09.2022-27.07.2023 | ||
| Export | Av. Price | Export | Av. Price |
| 198.193 tons | USD 2.327 | 235.487 tons | USD 1.696 |
| – 37.000 tons less than 2022 Crop | + 4.000 tons more than 2021 crop | ||
This represents a decrease of 37,000 tons compared to the 2022 crop but an increase of 4,000 tons over the 2021 crop.
| Summary of Crop 2023 | |
| Crop Size (Estimate) | 190-200,000 tons |
| Carry over from 2022 crop | 50-60,000 tons |
| Registered Quantity (dated 31.07.2024) | 187,000 tons |
| Exported quantity (dated 27.07.2024) | 198,000 tons |
| Estimated Domestic Consumption / year | 40-50,000 tons |
| Carry over | 0 |
Crop 2024:
- Latest estimate: 225,000 tons (partners in Turkey expect around 250,000 tons)
- Taris announced the new crop price for Type 7 at 100 TL, which should provide a floor price in the market on a Turkish Lira basis.
Chinese Vine Fruit Market
The Chinese vine fruit market has made a strong comeback in the UK after a few years of buyer reluctance. The quality and price of Chinese vine fruit have varied depending on the packer, but overall, the Chinese vine fruit industry has made significant improvements. This has led to increased acceptance from our customers, and we have seen a rise in demand for Chinese vine fruit in the UK market.
South African Vine Fruit Market
South Africa has had a bumper crop of 95,000 tons. The industry had very few sultanas available, and raisins and currants sold out quickly. The quality of South African vine fruit has been high, and prices have remained stable throughout the selling period, offering an attractive discount compared to Turkish origin. Exports from South Africa rose by 28% year-on-year from January to May 2024.
Greek Vine Fruit Market
Greece has faced similar issues to Turkey, with poor weather at harvest significantly reducing the crop size. However, a decent carry over from the 2022 crop has helped maintain supply. There will be limited carryover into the 2024 crop. The crop estimate for 2024 is around 15,000 tons, with the new crop expected up to 2 weeks early due to hot weather. Sellers have been reluctant to fix prices for forward contracts due to the uncertain market conditions.
Please contact us for offers of current and new crop. We look forward to hearing from you.