Global prices for dried grapes have been driven up by last year’s short crops in California and Iran due to unfavourable weather, as well as farmers shifting to more profitable crops. This in turn is pushing up UK prices for raisins and EU prices for sultanas.
Peanut prices remain lower this year due to buoyant global supplies. However, prices have increased slightly from last month as a result of surging prices in Argentina, which continues to suffer from a severe drought.
Prices for hazelnuts remain subdued due to good supplies in Turkey. The Turkish government has now started releasing surplus stocks, procured from farmers in previous months, back into the market.
Global pepper production is once again set to increase in 2018 due to continuous expansion in production areas in the main global producers. This is keeping prices for pepper low.
| Ingredients | Price in GBP per tonne | m-o-m % | y-o-y % |
|---|---|---|---|
| Raisins UK | 1452 | 0.50% | 29.30% |
| Sultanas EU | 1327 | 0.50% | 19.90% |
| Honey ES | 2559 | -0.20% | 6.00% |
| Almonds EU | 5231 | 7.60% | 3.90% |
| Dried Apricots UK | 2888 | 3.10% | -2.30% |
| Desiccated Coconut PH | 1772.7 | -0.70% | -11.70% |
| Cashews VN | 7165 | -3.40% | -12.90% |
| Hazelnuts UK | 4704 | -2.90% | -17.80% |
| Peanuts EU | 953.1 | 4.30% | -27.10% |
| Black pepper VN | 1774 | -13.00% | -52.80% |
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