Week 5

The hazelnut market has been stagnant for a long time. This recession is generally normal in these months. The stocks of the buyers are not finished yet, but they are gradually decreasing. Companies that determine when their stocks will run out seem a little demanding these days, but these demands are related to the future contracts they will make. In fact, we see that companies that mainly produce for supermarkets sometimes even make demands for the 2022 harvest.

On the other hand, TMO still has not made an announcement. Announcement to be made by TMO may be decisive for future pricing. The announcement to be made will attract the attention of the buyers because they will want to see what the sellers can offer them in the long-term and therefore the demand will increase. But that doesn’t necessarily mean there will be a lot of sales. Because there is no sales request on the seller’s side at the moment.

In general, buyers who meet their needs in the short-term observe the market for their medium-term needs and they are waiting for their long-term needs.

Sellers, on the other hand, are still reluctant to sell, as they expect a rise again since the hazelnut prices reached the peak in the past months. Farmers have a lot of stock and their positions are really strong.

For the 2022 harvest, the weather conditions in Turkey are very normal. The snow that has fallen in the past weeks and the cold weather conditions currently experienced prevented the hazelnuts from entering the budding stage early. It is still snowing in places higher than 300 meters above sea level. Seasonal conditions in Italy continue normally for hazelnuts. We look forward to the yield estimates. In the 2022 harvest, we may encounter a year with plenty of hazelnuts. We will see the effects of this situation on the current prices after the yield estimates.