The last week it was reported that this week, the Turkish Grain Board (TMO) declared that it would offer to sell approximately 27,000 tons of hazelnuts that it had previously purchased from the 2022/23 harvest and 2023/24. The board has established the price at TRY130/kg for the crop of 2023/24 as well as TRY 124/kg for the crop of 2022/23. This price excludes VAT.

Businesses who wanted to buy hazelnuts at the TMO were given until the 22nd of April to make an application, and had to transfer 10% of purchase price to the TMO before the shipment beginning on 24th April.

The beginning of the campaign 2023/24 at the beginning of 2023/24, the TMO bought Giresun-quality hazelnuts from the farmers for TRY 84/kg. It also purchased Levant high-quality hazelnuts for TRY 82.50/kg. In 2022/23, TMO was able to pay between 51 and 53 yuan for one kilo of the in-shell products, based on the quality.

In terms of demand the exports of hazelnuts from Turkey are currently lagging in comparison to the previous two seasons. Between 1st September 2023 to 31st March 2024 Turkey exported 192,000 tonnes of hazelnuts. That’s a lot more than the export of 201,100 tonnes during the same time frame last year, which was decreasing 4.5 percent year-on-year. In the period 2021/22, exports totaled 246,000 tonnes between 1st September to 31 March. Market participants will continue to closely keep an eye on the demand from Turkey in order to determine the availability of TMO stocks.

“[ TRY 1 = EUR0.03 [ TRY 1 = EUR0.03

Source: mintecglobal.com