Nuts

Hazelnuts: Ministry of Agriculture issues revised production estimates

July 13, 2020 at 10:15 AM, Der AUDITOR
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ORDU. Turkey's Ministry of Agriculture has issued revised prodcution estimates for hazelnuts based on a new count in the growing regions. Pressure is mounting on the market.

Production to range at 660,000 metric tonnes

Intitial production estimates ranged at 620,000 metric tonnes and took possible losses due to frost damages and other adverse codnitions into account. At present, the committee, however, estimates in-shell production at 660,000 metric tonnes. Market players, however, reckon, that production may well range higher.

Although enquiries are on the rise, the exporters' order books are reportedly not as full as usual at this time of year. The new crop is trading on a relatively high level, whereas prompt shipments are becoming cheaper every week. This should, however, change with the revised estimates, which will most certainly add pressure to the market. Prices are also highly attractive in Italy, Georgia and Azerbaijan. Prices, in addition, range low for other nuts such as almonds, walnuts and cashews.

Hazelnuts, Turkey

Size

EUR/kg

Natural, 11-13 mm

6.20

Diced, 2-4 mm

6.80

Meal, 0-2 mm

6.10

Hazelnut paste

5.30

DDP Germany

TMO to issue statement

Market players reckon that the TMO will intervene in a bid to counteract the expected decline in prices and to satisfy the farmers. They state-owned organisation is epxected to announce definite plans on minimum prices and intervention buying this week. While the farmers are not expected to hold back their hazelnuts in a bid to drive up prices, they may be more willing to sell to the TMO.

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