Reality kicks in
Projections for Turkey's hazelnut crop presently range from 400,000 mt at the pessimistic end to 650,000 mt at the optimistic end but fall well short of the initial INC estimate of 810,000 mt. This has generated a lot of irritation in the past weeks with importers rightfully asking how officials could get figures so wrong. Although exporters were relatively upbeat last week, sentiments have now changed again.
Main issue is that many offered contracts for the new crop as early as June at what has now merged as unsustainably low rates. This is