Being now on the spot, between the farmers in South Africa, we notice, as we reported earlier already, that there is a voluminous discrepancy in price between the old- and the new crop, specially as far as the Golden raisins are concerned.
We mentioned already that the bumper-crop of last year, which was abt. 55.000 tons, also contained a huge tonnage of golden mediums, which eventually could not be totally absorbed by the market and was left behind in the stores.
Henceforth we have now a market for golden mediums, which has to be split in old- and new crop. However, the old crop is being offered as new crop SA raisins. The buyer can see this in prices of different producers, as there is a +/- USD 200 difference in price.
It is up to the buyers now whether they give preference to the new crop or not., that is to say whether they are prepared to pay the premium or taking the risk at the same time of a shorter shelf-life.
After the strong depreciation of the Lira in Turkey, of late, it is understandable that prices for Turkish nr. 8/9 and 10 also came under pressure and with the better than expected 2013 crop in the USA, it seems logic that prices for Thompsons or Thompsons-like raisins do not have the intention to get firmer.