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Hazelnuts: High demand in Europe

August 11, 2017 at 10:38 AM , Der AUDITOR
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ORDU. Although demand from Europe is high, Turkey is thinking about intervention buying.

Surprising announcement

At the beginning of August, the Minister of Agriculture, Dr Ahmet Esref Fakibaba, announced that the TMO may start intervention buying on 20 September. This announcement has stirred some confusion with rumours afloat claiming that warehouses have already been rented. Considering that the farmgate prices are stable this announcement seems rather surprising.

Market players reckon that the government is rather intending purchases for safety reasons should the prices suddenly decline because of a sudden lack of demand or because of good production figures. It is very possible that the TMO will offer similar prices so that it will make no difference for the farmers if they sell to the state or to the market. The currently high demand from Europe, in addition, renders sudden price drops highly unlikely.

Great discrepancies in price

Selling has already started for the new crop. Farmgate prices are currently trading on a stable level of 8-9 TRY/kg. Offers for hazelnut kernels, natural, 11-13 mm are available for 5.15-5.50 EUR/kg DDP Germany. Buyers and sellers alike appear to be satisfied with these prices.

Turkish Hazelnut kernels

2017 crop

EUR/kg

natural, 11-13 mm 

5.15

diced, 2-4 mm 

5.25

meal, 0-2 mm 

5.05

hazelnut paste

4.25

DDP Germany

Attached Files

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Hazelnut kernels natural price chart

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