On October 26th, TMO (government organization) announced that they will start buying Hazelnuts from farmers just like they did last year.
TMO will intervene hazelnut market to keep the market firm and farmers happy before local elections in Turkey which is set to take place on March 2019.
TMO declared their purchasing prices as 14.00 TL/kg for Levant quality and 14.50 TL/kg for Giresun quality and they’ll start buying at the beginning of November 2018 – which means that farmers will get about 16.50 TL/kg.
Right now incoming quantities from farmers to packers are very low and there is a sharp increase in hazelnut market prices due to intervention of TMO and also stronger Turkish Lira (right now USD/TRY 5.52).
If you have any inquiries or want to discuss about current market developments, please feel free to contact us.