Hazelnut Market: Will Price Corrections Bring a Revival?

After the hazelnut market calmed down again last week, the expected correction occurred this week. The price reversal in Türkiye can be explained by the fact that it was artificially caused on the one hand, but also that prices had reached a level of 115 TRY/kg that farmers had not expected at the time. Pleased with the high level, some of them were willing to sell, but there was not enough demand, which caused prices to fall.

Demand boom?

It is still the case that buyers are keeping a close eye on the market and only covering the most necessary quantities. Even this week’s price correction did not result in demand increasing again. There were a few transactions from the Far East, but these are more likely to be related to the fact that there are longer lead times due to the avoidance of the Suez Canal and buyers are building up slightly higher stocks. The domestic market is also quiet. Although purchases in preparation for Ramadan have revitalized the market somewhat, this is not enough to have an impact on the market.

If the TMO does not provide a surprise, we do not expect any major impetus in the coming weeks. The weather situation is not yet critical, the market leader is behaving calmly and buyers are acting cautiously. April, on the other hand, is likely to be good for setting the course.

With regard to the situation in the foreign exchange market, there are also no events that have had a major impact on the price lists. The Turkish central bank has once again raised the key interest rate by 2.5%. This is now at 45% p.a. and an end to the rise is not in sight until inflation falls. There is a certain stability with regard to the exchange rate, which can also be expected in the coming months.

Bullet points

• Commodity prices continue to fall.
• The market is signalling a high demand for information, but is not in a buying mood. Only immediate needs are being met.
• The Turkish central bank raises the key interest rate once again by 2.5% and thus continues to keep the exchange rate relatively stable, with a certain degree of volatility.
• The export price lists continue to vary greatly, depending on the position of the exporters.

Import/Export Statistics

Please click to reach our marketplace

Related posts:

Hazelnut Market: Cautious Farmers – Are Prices Still Rising? Hazelnut Market: President Erdoğan Publishes the State-Guaranteed Purchase Prices Turkish Hazelnut Exporters Position Themselves Differently Turkish Hazelnut Market Shocked by Unexpected TMO Reaction Renewed Hazelnut Price Increase Unsettles Buyers Turkish Hazelnut Prices Continue Increasing Little Activity in the Turkish Hazelnut Market Hazelnuts: What Does The Market Leader?