Market info - Hazelnuts
Hazelnuts
Again the weak Turkish Lira covers the fact that prices in the local market are on the rise due to quality issues and the increased sales to TMO.
Most probably TMO will reach their goal of buying 100.000 Tons of crop 2021 hazelnuts in the coming month, making them an important player on the market instantly as a big part of the large crop got damaged by the terrible conditions during the drying period.
Due to the economical situation in Turkey farmers are not in a position to play the market this year by making the choice to not sell their stocks in order to create shortage. They are forced to sell as soon as possible to be able to cover some of the costs they made so far.
Because of all the insecurities exporters fear closing long-term contracts and therefore either refuse to do so ór only close contracts against prices that are (much) higher than the prices for short term shipments.