Nuts

Hazelnuts: procurement strategy based on weak lira is not without risk

June 7, 2021 11:02 AM, Der AUDITOR
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ORDU. Turkey's hazelnuts exports may far exceed expectations this season. As buyers are reckoning with further sharp declines in the Turkish lira they prefer to wait and hope to profit from low export prices. This procurement strategy is, however, not without risk.

Exports exceed expectations

Exports have exceeded expectations by far. While the market estimated total exports for this season at around 270,000 mt in September, exports already passed 231,595 mt in May as data issued by the Black Sea Exporters' Union suggests. Since there still are three months to go before the season ends exports will easily exceed initital estimates. Nevertheless, it shoul be noted that exports fall 21.1% short on last year at present.

Exporters are in high spirits as the prices on offer in other producing countries such as Georgia or It

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