Iranian Dried Apricot Prices Surge Amid Declining Market Inventory
The average price of Iranian dried apricot for export has risen by about 15 percent per kilogram in the first 3 months of this year compared to last year. The most important reason for this rise in prices is the decline in market inventory.
According to Iran customs statistics, about 452 tons of Iranian dried apricot were exported from January to March 2022. The export value of the mentioned products was 1,007,000 USD. The average price of these crops has been 2.23 USD per kilogram during this period.
The rise in prices of the mentioned exported crops has been due to a decline in market inventory and the imbalance between supply and demand in the first three months 2022. The demands for these Iranian exported crops were more than their market supply due to the lack of inventory caused by a decrease in production in the first three months 2022. This issue has increased the price of this product in the market and their export value in the first three months of this year compared to the same period last year.
The cost of these products has remained unchanged in the domestic market in April, after the rise in prices of all kinds of Jumbo Dried Apricot and dried apricots in the past months, a decline in domestic and export demand over the past month, the balance between supply and demand, and the stability of foreign exchange rates in the market.
According to Iran customs statistics, about 452 tons of Iranian dried apricot were exported from January to March 2022. The export value of the mentioned products was 1,007,000 USD. The average price of these crops has been 2.23 USD per kilogram during this period.
- The export rate of this product has decreased in terms of weight and increased in terms of export value in the first three months of this year compared to the same period last year.
- 483 tons of dried apricots and Jumbo Dried Apricot worth 939,000 USD were exported from Iran.
- The export rate of the products has decreased by about 6.4 percent in terms of weight and risen by about 7.2 percent in terms of export value in the first three months of 2022 compared to the same time last year.
Increase in prices
The reason of the increase in the export value despite the export decrease in terms of weight is the increase in the price of this product in world markets during the first three months of this year compared to last year. The average price of dried apricots for export has grown by about 15 percent per kilogram compared to the same period past year. This price has become 2.23 USD per kilogram from 1.94 USD.The rise in prices of the mentioned exported crops has been due to a decline in market inventory and the imbalance between supply and demand in the first three months 2022. The demands for these Iranian exported crops were more than their market supply due to the lack of inventory caused by a decrease in production in the first three months 2022. This issue has increased the price of this product in the market and their export value in the first three months of this year compared to the same period last year.
The cost of these products has remained unchanged in the domestic market in April, after the rise in prices of all kinds of Jumbo Dried Apricot and dried apricots in the past months, a decline in domestic and export demand over the past month, the balance between supply and demand, and the stability of foreign exchange rates in the market.