The environment in which the trade of Turkish Hazelnuts is taking place has changed dramatically. The first rumours started spreading its way through the market after the tweet of Faruk Çelik, (Turkish Minister of Food, Agriculture and Livestock) about the active role of the Turkish Ministry of Agriculture in terms of purchasing of hazelnut kernels. Yesterday morning these rumours have been confirmed by the TMO including the inshell buying prices which they will handle. Prices for Giresun variety have been announced at TRY 10,50 per KG and TRY 10,00 for Levant. The market responded directly on this news and prices jumped of 4-5% instantly. Although the link between this crucial decision and the timing of the Turkish referendum is disputable, it is more than clear that the landscape of the global hazelnut market will be effected by this development. In order to form a clear view on the actual impact on the 2017 crop, we need to await further announcement regarding the detailed purchase requirements of the TMO including crop year, quantities and the sales of these stocks.
