Sultanas & Raisins Market Report
The past week has seen an increase in the price of Turkish sultanas as local packers struggle to find raw material. Prices have been stable for several months, but following the global shortage of raisins have now started to increase. This is a significant increase and the feeling from both UK importers and major Turkish packers is that prices will rise further. In reality there should be ample stocks of raw material to meet export requirements, but as is often the case with any major commodity, markets can be effected by other factors, such as the uncertainty of a smaller new crop.
Unsold stocks of Turkish raisins are now virtually non-existent, although some packers continue to offer type No.7 and type No. 8 sultanas, which are darker in colour as a substitute. These should be less expensive than the genuine alternative, but prices have been creeping upwards as available stocks of genuine raisins are nearly exhausted.
The good news as reported last week is that South Africa and hopefully Chile are both expected to have good new crops of raisins this year. The southern hemisphere harvest takes place from March onwards with first shipments at the end of the month or early April. .