Hazelnuts, Market Update 21.09.2022

Till now, TMO is assumed to purchase 20.000 mt. The purchase performance is expected to speed up as the season started 15 days late. The total amount of contracted purchase quantity is 120.000 mt till the end of October. TMO has 44 purchasing points currently, and it is planned to increase to 55 or more by October.

The big buyer announced a price higher than TMO in shell, plus a quality bonus, and it keeps purchasing. As it is the major buyer in the market, most of the hazelnuts coming to the market are going to this company.

Because of the low demand, the economic struggle in the market, and the high financial costs free market started the season more inferior than the TMO price. Still, as TMO and the big buyer had the strength to cover the supply, the price increased.

In the near future, both TMO and big buyer’s performance will be effective on the market price as well as the low demand from the other parties.

While pricing below current levels seems complicated on  TL basis, the exchange rate will be effective on the export prices.

We did not face a significant problem with the quality of the new harvest till now. Only tumorous hazelnut kernel percentage is nearly doubled compared to the previous season. Harvesting continues at mid-high /

high areas, if the weather conditions are suitable, we expect harvesting and drying period to be completed within 2 weeks. As the weather seems rainy in the coming days, moisture can be a problem for these hazelnuts, so it has to be monitored.