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Hazelnuts: unfounded panic

April 6, 2023 at 1:38 PM , Der AUDITOR
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ORDU. Conditions have been quite harrowing for Turkey’s hazelnut exporters in recent weeks. Not only did frost give rise to panic but the general election is also looming large and already has large implications for the market.

Paralysed

Frost certainly sparked panic at the end of March. Luckily, however, only shrubs in higher altitudes were affected and any potential damage will not have a large impact on the crop. Suppliers, nevertheless, panicked and sent prices soaring to TRY 59.50/kg for Levant quality hazelnuts, whereby the TMO’s first round of sales initially stabilised the market at TRY 55.00-57.00/kg. Paralysed, many refused to sell.

After it emerged that there is no extensive frost damage to be reported prices started to decline again and are now on a similar level

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