Hazelnuts: new estimate is a far cry from market expectations

July 12, 2021 10:08 AM, Der AUDITOR
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ORDU. Although it is normal for production estimates to differ in Turkey’s hazelnut market, the Ministry of Agriculture’s recent estimate is a far cry from the figure anticipated by the Exporters Union. While the exporters reckon that this year’s production will range at 800,000 mt, the ministry has issud a far lower estimate of c 686,000 mt. Problem is that the market is not used to such a large discrepancy. Experienced suppliers have responded swiftly.

Ministry very much irritates market

Last week, the Ministry of Agriculture issued a production estimate over 686,412 mt. As this falls nearly 120,000 mt short of the 800,000 mt anticipated by the Exporters Union, the market is very much irritated. This gave the raw kernel market a nominal boost since some suppliers swiftly raised their prices. Raw kernels, size 11-13 mm, are trading at around TRY 47/kg. Traders, however, point out that counting is currently underway in the orchards and that no evidence has been gathered so far that would in any way support a drastic

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