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Hazelnuts: TMO statements are long overdue

July 6, 2020 11:45 AM, Der AUDITOR
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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

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