- Bakeries facing higher costs for dried fruit like raisins, sultanas and currants
- US raisin prices soared by 50 per cent in 5 months due to shortages in California
- Sultanas have risen by 30 per cent in Turkey, which is a key supplier to the UK
There’s bad news for hot cross bun lovers as prices of the baked goods are set to soar this year just in time for Easter.
Bakeries are facing much higher costs for dried fruit, with raisins, sultanas and currants expected to rocket in the run-up to the annual holiday.
US raisin prices have soared by 50 per cent since September due to crop shortages in California.
There’s bad news for hot cross bun lovers as prices of the baked goods are set to soar this year just in time for Easter
Production has been falling over several years due to low profits, which has driven farmers to switch to other crops.
On top of that, output plummeted further due to a heatwave.
Production in California in 2018 is estimated at 275,000 tons, down eight per cent compared to the previous 12-month period and 15 per cent below the five-year average.
The US shortages have sparked a price rise in sultanas from Turkey, which is a key supplier to the UK.
Prices of Turkish sultanas have risen by 30 per cent since September – and at the same time currant prices are soaring in Greece.
US raisin prices have soared by 50 per cent since September due to crop shortages in California. Prices of Turkish sultanas have risen by 30 per cent since September – and at the same time currant prices are soaring in Greece
Production there is about a third down and prices on the UK market are up 40 per cent since September.
Jara Zicha, a senior market analyst for retail consultancy Mintec, said some food producers are set to switch from currants to other dried grapes.
However, substitution will be hard given the inflated market for all dried fruits, especially in the run up to Easter.