The quality concerns about the remaining Turkish hazelnut stocks seems to be rising even further. TMO has rejected roughly 30% of the applications from stockholders to sell their crops last week. Updates like these keep on feeding the uncertainty in the market, pushing potential buyers into even more uncertain positions. The uncertain character of the market also moved the eyes of some buyers to the fresh 2017 crop, pushing the (hard to find) 2017 offers in an upwards spiral. Main reason for exporters to stay away from big forward positions so far is caused by the continuation of the fungus disease. Some exporters might be persuaded to reconsider these forward positions during the coming weeks, based on the favourable weather conditions as predicted for the nearby period. In opposite to the rainy June is July forecasted to have a lot of sunny days, which will stop the development of the fungus disease. Expectations at source are differing between 600K and 700K MT in total, keeping the market from settling down.
