Nuts

Hazelnuts: market waits for production estimates

April 14, 2020 9:20 AM, Der AUDITOR
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ORDU. Although night frosts are no longer expected, hazelnut production estimates still need to be issued in Turkey.

Covering purchases and speculations

The measures adopted against the coronavirus, some of which are very drastic, have prompted a decline in demand within Turkey. Market players, in addition, report that export demand is lower. At the same time, exporters are continuing to stock up on supplies. While some are stocking up for sales already conducted, others are speculating on rising prices and intend to make profits as the season progresses. Since supplies are limited on the free market farmgate prices have risen to TRY 21.50 per kg and thereby range TRY 0.50 per kg higher than the TMO prices. Experts reckon that the limited supplies of raw nuts will force many shellers to stop work in June at the latest. Due to the decline in value of the Turkish lira the export prices have, however, remained firm.

Hazelnuts, Turkey

Size

EUR/kg

Natural, 11-13 mm

6.75

Diced, 2-4 mm

7.55

Meal, 0-2 mm

6.70

Hazelnut paste

5.90

DDP Germany

Ferrero will not need to buy

Reports states that Ferrero has stocked up on sufficient supplies in recent weeks. The market giant will most probably not require new hazelnuts until the arrival of the new crop. In general, it can be stated that the remaining market supplies should last for the next few months as long as production ranges at or exceeds 600,000 metric tonnes and advance purchases are limited. For the time being it, however, remains unclear in how far the night frosts have impacted production. Market players are waiting for official estimates. New frost damages are, however, unlikely as the weather conditions are simply too good.

 

Attached Files

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price chart hazelnut kernels natural Turkey

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