The TMO announced that it would sell a total of 23,000 mt of in shell hazelnuts from different warehouses in Trabzon, Sakarya and Ordu. Welcome as this news is, the prices on offer are highly controversial. Trouble is that the TMO is asking TRY 68/kg for regular Levant quality nuts and TRY 65/kg for pointy in-shell hazelnuts. Exporters are furious as these prices could not be more wrong.
Trouble is that the market is paralysed. Not only did the Turkish lira witness a heavy selloff last week but raw nut prices also hit unreasonably high levels