The yo-yoing of the Turkish hazelnut market continued during the last two weeks. Farmers at origin are seen as the main driver for the climbing market. Farmers are trying to get rid of the last 2015 stocks while processors are not interested. Supply of 2016 crop is limited and therefore prices went up.
Observing the latest updates on the 2017 crop, the expectations for the new crop are good. A number of reports from origin mention a very good flowering in combination with a decent pollination, should result in a good crop. Latest updates are indicating a crop slightly above 700.000 MT.
With the yo-yoing market the short term is hard to predict. The current political situation is not helping either, as the rate of USD/TLR is yo-yoing as well!