Hazelnuts: speculative estimates on the 2021 crop

January 18, 2021 10:03 AM, Der AUDITOR
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ORDU. The first highly optimistic production estimates for hazelnuts have been issued in Turkey this year. Trading, however, remains largely subdued.

Production claimed to exceed 800,000 mt

Winter, along with snow and cold temperatures, should arrive at the Black Sea Coast this week and prevent early vegetation growth. Although the shrubs still need to be inspected before preliminary crop estimates will be issued, some exporters have already issued in shell production estimates that exceed 800,000 mt. This figure ranges 150,000-200,000 mt higher than 2020 production. Market players reckon that such premature estimates are either driven by speculation or designed to prompt growers to sell at reasonable prices.

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