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Hazelnuts: strange market dynamics

May 25, 2022 9:55 AM, Der AUDITOR
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ORDU. Over the last few weeks reality has kicked in that sufficient supplies are available, and attention shifted more towards the new crop. At present, the mood is, however, shifting in Turkey’s hazelnut market. Issue are strange dynamics. The market may also have to adjust production estimates for the new crop.

Production estimates may need to be revised

Supplies are not quite as readily available as expected and the recent depreciation of the Turkish lira against the US dollar and the euro is far from helpful. Trouble is that the devaluation of the lira prompted the prices for imported nuts and oilseeds such as cashews, almonds and pumpkin seeds as well as domestically produced pistachios to skyrocket in Turkey. This gave rise to expectations that the prices for hazelnuts would do the same and encouraged some traders to stock up.

Bizarre effect of this is that sup

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