Strong Demand Pushes Apricot Prices Higher

Apricot prices are climbing as demand surges ahead of Ramadan. Growers and traders from Turkey are actively buying raw materials, contributing to the price increase. While this seasonal boost is a positive start to the bloom season, the recurring threat of frost—seen in 8 of the last 10 years—remains a significant concern. If frost impacts crops again this year, prices could rise sharply.

Export Demand on the Rise

Global demand for apricots has increased significantly, with export volumes expected to be 30% higher than last year. This strong demand could lead to the entire crop being sold, further reducing supply. However, some importers are delaying their purchases for January, hoping that a potential devaluation of the Turkish Lira will lower prices in USD terms.

Economic Factors Shaping the Market

Turkey’s economic policies are influencing market dynamics. A 30% increase in the minimum wage and tighter controls on the Turkish Lira have reduced export competitiveness in some sectors, like vine fruits and textiles. Despite these challenges, the apricot market has remained strong due to limited global competition and robust demand.

Key Points for Traders

1. Prices Increasing: Demand, especially for Ramadan, is driving prices upward.
2. Frost Risk: Frost remains a major concern and could significantly affect the crop.
3. Export Growth: A 30% rise in export volumes highlights strong global interest in apricots.
4. Economic Impacts: Turkey’s policies have created hurdles in other sectors, but apricots have stayed resilient.

Strong Export Demand for the Apricot

The apricot market is set for a season of high demand and steady price growth. Traders should keep a close watch on weather conditions, particularly frost risk, and monitor Turkey’s economic shifts, which could influence pricing. Strong export demand and limited competition are likely to keep prices firm in the months ahead.









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