Turkish Hazelnut Market update

The market generally remains unchanged in Turkey, however after the recent elections and and reelection of Recep Tayyip Erdoğan  the Lira recovered about 3%, which was less than the expectation. Prices in €/$ increased accordingly.

Weather conditions have been near perfect up until now and the crop is developing extremely well.

Exporters Union specialists are in the fields for the crop estimate which should be known within the next fortnight.

It's already it's reported that there are no special risks of cimiciato (hazelnut bug damage) nor mildew. The nuts seem to be of a larger size (less premium for 13/15 but less discount for small nuts can be expected).

We can be assured there will be plenty of availability of hazelnuts for the new crop.

The market drivers will be exchange rates, on one side the Lira, can it recover now the financial markets have less reason to fear political uncertainty and on the other side the politics of TMO; this will depend on the market price and social atmosphere at the time growers begin to market there new crop material; end August/September.