While slightly down this month, both raisin and sultana prices have been rising steadily in the EU and UK. They have felt the effects of increasing prices for Californian raisins, which are up 20% on the five-year average and trading at a premium against Turkish equivalents. It follows falls in production as farmers turn to more profitable crops such as pistachios and almonds.
US peanut production in 2017-2018 has been estimated at 3.5 million tonnes. The predicted 37% rise on last year’s harvest would make it the largest crop on record.
The weak value of Turkish lira has contributed to plummeting hazelnut prices, as more than 90% of global production comes from Turkey. Surplus stocks and forecasts of another good crop this season have depressed prices.
Pepper prices have been subdued by strong supplies in the wake of large expansions in growing areas across most of the main producing countries.
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