Nuts

Hazelnuts: TMO takes desperate action

February 2, 2023 at 10:36 AM , Der AUDITOR
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ORDU. Suppliers in Turkey are utterly shocked and surprised by the TMO’s decision to sell hazelnuts. Initial assumption was that the state-run organisation would try to hold on to its stocks to prevent prices from tumbling before the general election in June.

Price shock

Instead, the TMO announced on Wednesday that it would sell part of its stocks at shockingly low prices, namely 20,000 mt of the 2021 crop in Levant quality at TRY58.00/kg as well as 8,000 mt of the 2022 crop (5,000 mt in Levant quality and 3,000 mt in Giresun quality) at TRY 61.00/kg. Interested parties need to pay 10% in advance and apply by 07 February.

This announcement immediately prompted the prices for Levant quality inshell nuts to fall from TRY 61.50/kg to TRY 56.00/kg and expectation is that they will drop as low as TRY 55.00/kg. While t

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