Last week, the Turkish Grain Board (TMO) announced it was offering for sale approximately 27,000 tons of its hazelnut stock, which it previously acquired from the 2022/23 and 2023/24 harvests. The agency has set the price at TRY 130/kg for the 2023/24 crop and at TRY 124/kg for the 2022/23 crop, excluding VAT.
Companies wishing to purchase hazelnuts from the TMO had until 22nd April to apply, having to deposit 10% of the price to the TMO, with the deliveries set to commence from 24th April.
At the start of the 2023 /24 campaign, the TMO purchased Giresun quality hazelnuts from farmers at TRY 84/kg, and Levant quality hazelnuts at TRY 82.50/kg. In 2022/23, the agency paid between TRY 51-53/kg for a kilo of in-shell product, depending on quality.
On the demand side, hazelnut export volumes from Turkey are so far trailing behind the last couple of seasons. Between 1st September 2023 and 31st March 2024, Turkey exported 192,000 tons of hazelnuts, compared to 201,100 tons exported in the same period a year ago, down 4.5% y-o-y. During the 2021/22 campaign, exports totaled 246,000 tons between 1st September and 31st March. The market will now closely watch demand in Turkey for the TMO-released stocks.
[ TRY 1 = €0.03 ]
Source: mintecglobal.com