Hazelnuts: the tide is turning
May 10, 2021 at 10:35 AM ,
Der AUDITOR
No need for TMO to interfere
Trading will be cut short this week as the end of Ramadan will be celebrated as of Wednesday and many businesses in Turkey will remain closed until Monday. Contrary to expectations, the TMO will no longer interfere as a buyer in the market this season. Market players now agree that there is no need for this as growers are getting good prices and exports are certainly picking up, although they initially lagged behind this season. Turkey has shipped 215,000 mt of hazelnut kernels overseas this season so far. Although there is little chance that exports will reach last year's record of 340,000 mt, chances are good that they will range on a similar level as two years ago when c. 270,000 mt were shipped overseas.
Encouraging prospects in 2021/2022
One reason for the rise in exports is that production declines are expected in Italy. Businesses here have already started buying hazelnuts in Turkey. On top of this, the voices being raised in Azerbaijan and in Georgia are highly cautious, which is a sure indication that prospects are anything but encouraging in these producing countries. Production in Turkey is, by contrast, expected to be normal. Counting for the INC production estimate, which will be issued in June, has already started. Turkey is, in other words, expected to be the big winner in 2021/2022. As the TMO will probably issue higher bid prices for the new crop there is no pressure for the growers to sell their stocks at present.
Hazelnuts, Turkey |
|
Size |
EUR/kg |
Natural, 11-13 mm |
5.00 |
Diced, 2-4 mm |
5.45 |
Meal, 0-2 mm |
5.25 |
Hazelnut paste |
4.88 |
DDP Germany |
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