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Gülten Tümer

Sep 12, 2024

Low Prices and Late Announcements: A Crisis in the Apricot Market?

Low Prices and Late Announcements: A Crisis in the Apricot Market?

Late Announcement Causes Frustration Among Farmers

After the Turkish Grain Board (TMO) announced the base prices, purchasing officially started on September 3 in apricot market. However, farmers across the region are still reacting to the delayed announcement and the low prices set by TMO. The late timing of the announcement, combined with the pricing, has created frustration among both producers and business owners.

Prices Below Market Expectations

Both apricot producers and business owners have stated that the TMO prices are significantly below the market rate, which puts farmers in a difficult position. TMO’s top price offer for dried apricots stands at 155 TL (~€4.18), but farmers are selling their dried apricots for as much as 240 TL (~€6.48) in the open market, a significant difference. This disparity has led many farmers to refuse to sell their apricots to TMO, further delaying transactions.

Export Market Slows Down

As a result of these pricing issues, apricot exports have not yet picked up momentum. Export activities remain sluggish, leaving producers in uncertainty as they wait for better opportunities or new support from the government.

Unclear Future Support From the State

Farmers are also waiting for potential government support, which is expected to be announced next month. However, it is unclear what form this support might take, and whether it will effectively address the concerns raised by producers.

Sweet Apricot Seed Sales Bring Additional Income

While the main market for dried apricots struggles, farmers have begun to diversify their revenue streams by selling apricot seeds. The sale of sweet apricot seeds has provided some relief, allowing producers to earn additional income amid the current market challenges.
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