The market seems to be – temporarily – in calmer waters again, waiting for more clarity on the possible buying price of TMO. With the EID holidays around the corner, it is assumed that the TMO will announce their buying price for the 2020 crop anytime between now and the end of next week. In the meantime more information on the 2020 crop is coming to the market, including the crop estimate of the Turkish Hazelnut Export Union. They announced earlier this week that they expect the 2020 crop to be at 670.285 MT coming season. This estimation turns out to be roughly 8% higher than indicated earlier during the INC webinair sessions, in which the Turkish crop expectation was set at 620.000 MT. Although this is quite a big difference, the market is not expected to become active again until the buying price of the TMO is set now this announcement seems to be just a couple days away.
