Nuts

Hazelnuts: TMO statements are long overdue

July 6, 2020 11:45 AM, Der AUDITOR
Play report as audio

ORDU. Rumors over a possible TMO intervention in 2020/2021 have kept the hazelnut market on its toes. Official TMO statements are long overdue.

Exports exceed record

Although buyers are now mainly interested in the new crop, exports are still going well. Turkey had shipped around 312,000 metric tonnes of hazelnut kernels overseas by the end of June, thereby exceeding the last seaons' final record of 300,000 metric tonnes. Market players, however, report, that many shipments are based on cheap contracts, which is why some exporters are struggling with losses. Buying would certainly have been even higher if the Covid-19 pandemic would not have hit the market.

New crop is relatively expensive

Since TMO prices have so far failed to materialise, rumours and speculations have driven up the farmgate prices for last year's crop to TRY 43 per kg. However, it should also be noted that the Turkish hira has declined in value again. New censuses are reportedly being carried out by the Ministry of Agriculture's Commission, so that market players anticipate that the long overdue statement on the TMO's activities will be issued within two weeks at the latest. In-shell production has recently been estimated at 620,000 metric tonnes. Although buyers would love to see suppliers in Turkey selling at similar rates as suppliers in Georgia, traders dismiss such demands as ridiculous. Buyers are currenlty purchasing small volumes for the first few months of the new season, but mainly prefer to wait and see.

Hazelnuts, 2020 crop

Size, origin

Price

Natural, 11-13 mm, Turkey

EUR 6.59/kg

Natural, 13-15 mm, Turkey

EUR 6.70/kg

Diced, 2-4 mm, Turkey

EUR 6.80/kg

Natural, 11-13 mm, Georgia

USD 7.00/kg

Natural, 13-15 mm, Georgia

USD 7.10/kg

Diced, roasted, 2-4 mm, Georgia

USD 6.50/kg

DDP Germany

View more information
price chart, hazelnut kernels, natural, Turkey
more price charts

Attached Files

File icon
price chart hazelnut kernels natural Turkey

View related articles

Go to the News Overview
Nuts
Nov 29, 2021
HANOI. As Cornhouse and the INC report, there are more than enough cashews available on the world markets. Exports are causing some difficulties, but these should be eased by a new container ship route in the Indian Ocean.
Nuts
Nov 29, 2021
ORDU. In reaffirming in public that he has not intention of changing Turkey’s easy monetary policy President Erdoğan again sent the lira tumbling last week. The lira has, in fact, lost 25% in value against the euro within only one month. This and other uncertainties have plunged the hazelnut market into chaos.
Nuts
Nov 29, 2021
MADRID/SACRAMENTO. The massive slump in US exports is causing almond prices to fall. Spanish almond suppliers, however, can be pleased with a significantly better export volume. September exports are 20% higher than in the same month last year.
Nuts
Nov 24, 2021
REUS/YAMOUSSOUKRO. According to the latest INC production estimates, Côte d'Ivoire has cracked the 1 million mt production mark this season. Due to lower freight costs, African origins can score with European buyers.