10 Dec Turkish Hazelnuts Report
Pangea Brokers updated Turkish Hazelnuts Report
We are happy to share with you the updated market information for the Turkish Hazelnuts.
Until the 30th November, the exports of the New Crop Hazelnuts increased into 90.333 tons of kernels. However the exports during September, October and November were slightly lower compared to the ones of last year at the same period.
The main reason for the lower export is the intervention of TMO at the beginning of November. Since then, the prices increased around 15% and, after checking it with many supplier, it seems that so far any decrease would be.
Also the local currency is an important factor for the price instability. So due to these factors, the demand has reduced and many buyers have chosen to import from other origins, such as Azerbaijan and Georgia; being currently Turkey a very quite market.
Another important factor for the New Crop of Turkish Hazelnuts is that, as expected, the yield is very high, around a 54%, depending on size and region; but the main ones are:
- 13-15 mm, very high share, approximately 60%
- 11-13 mm, approximately 35%
- 9-11 mm, very low share, approximately 5%.
So in the following weeks, we will see how the market evolve.