Chinese grape surfeit drives down prices of sultanas

- Last updated on GMT

Global sultana prices have fallen sharply as a result of high Chinese production. According to commodity analyst Mintec, the crop is currently selling at 15% below last year's price.

Following an excellent harvest in China, grape supply has heavily outweighed demand, pushing down the prices of crops both in China and elsewhere.

But a period of week sales of fresh grapes in China has led many farmers to decide to dry their crop, selling them instead as sultanas. But the record crop in China has resulted in a significant increase in sultana production.

Following increased availability, Turkish farmers have been forced to drop their prices in order for their crop to remain an attractive option to buyers.

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