After a period of both short supply and short demand, seems this balance to be disrupted after the last stocks of TMO came to the market last month. Although trading activities are still low, some first relief in pricing could be seen on the Turkish market during the last two weeks. With the line between supply and demand still very thin, it remains to be seen whether this trend will push further or turns out to be only a temporary condition. In the meantime prices for other (ingredient) nuts are worldwide under pressure as well, providing no support for hazelnut prices to lean on. Last Wednesday a new update on the expected world supply of hazelnuts was released by the INC. The estimate for the Turkish crop was set at 620.000 MT, which is in line with the earlier indication of 613.000 made on the flower count. This means a decrease of almost 22% for the Turkish crop compared to this year. The impact on the total world supply remains limited, driven by strong expectations of bigger crops in all other producing countries except for France and Iran.
