Nuts

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

June 7, 2021 11:02 AM, Der AUDITOR
Play report as audio

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

View related articles

Go to the News Overview
Nuts
Aug 11, 2022
ORDU. The Turkish Ministry of Agriculture and Forestry has announced the production estimates for the new season, which have been eagerly awaited by market players. These are promising, as is the quality of the nuts.
Nuts
Aug 10, 2022
HANOI. The original plan of the Vietnamese cashew industry was to export cashews worth USD 3.8 billion in 2022. However, various difficulties mean that this export target is now to be revised downwards.
Nuts
Aug 10, 2022
KERMAN. After frost and drought, Iranian pistachio farmers are now struggling with the effects of heavy rains, which may have caused significant damage. Irrigation is also at risk as a result.
Nuts
Aug 2, 2022
ORDU. President Recep Tayyip Erdoğan’s announcement of the Turkish Grain Board’s (TMO) purchasing price for new crop hazelnuts caused a bit of confusion on Saturday. Although the state-run organisation clarified prices on Monday, traders do not think that the market will buy into them. Rumour has it that Ferrero has swiftly responded.