Raisin Prices Increase in Iran Due to High Market Demand
The wholesale price of Iranian raisin (dried grapes) rose +94.63% YoY and settled at USD 1.67 per kg in the first week of January 2022. The price spike in late October 2021 is expected due to the high demand for raisins. The decline in production pushed prices to hold at that high level until early 2022.
The price of Iranian raisins has soared since late October 2021
Iran is the fifth largest exporter of raisins (dried grapes) in the world with an export value of more than USD 90M in 2020. The wholesale price of Iranian raisins (Zante Currant) has increased significantly by +94.63% YoY and the price was set at USD 1.67 per kg on 03 Jan 2022. The price was at its lowest level since the beginning of 2021 at USD 0.86 per kg but rose to USD 1.07 per kg in April. Prices weakened again between May and mid-October until finally returning to USD 1.55 per kg on October 25, 2021. The price rose higher towards the end of the year and was recorded to be around USD 1.67 per kg in December 2021.
Most of the Iranian raisins (dried grapes) are sent to Turkey, while the rest are exported to Ukraine, Poland, Germany, and Romania. The soaring price at the end of October 2021 was allegedly due to the high demand for Iranian raisins towards the end of the year. Moreover, droughts have impacted production resulting in crop losses. Given that production actually declined at the end of the year, the prices remained at the highest levels.