Total 2022 Crop shipments surpass 2021 crop
· Exports in July were 3,276 tons compared to 1,618 tons last year
· Total crop year exports are 80,606 tons compared to 80,584 tons last year
· Total revenue from exports was $435,546,670 compared to $374,088,848 last year, an increase of 16.4%
Harvest off 2023 crop is more or less complete with drying and pitting in most regions coming to an end. New crop has been trading in the market for around 2 weeks, The following observations can be made:
· About 60% of the crop has blemishes of above 30%, old crop is a premium to new crop when it can be found.
· There is a massive price differential between clean and blemished fruit.
· Sizes are mostly large. There is no price difference between size 2 and 7 with only a small premium for size 1. We may indeed see small and medium fruit required for retail packing move into a premium over large fruit.
· The crop is small, most farmers reporting a fraction of what they produced last year.
· Natural apricots have moved into a premium over sulphured. Organic apricots are extremely scarce.
· Pricing remains firm for clean fruit, with many growers holding on to their fruit anticipating higher prices, and to hedge against inflation.
Buyers have started to cover, many requiring immediate shipments.