The Turkish president, Recep Tayyip Erdogan recently announced the TMO (Turkish Grain Board) hazelnut purchasing prices for the 2020/21 season. The Giresun quality hazelnuts are priced at TRY 22.5 per kg, up from TRY 17 per kg last year, while the Levant quality hazelnuts cost TRY 22 per kg, up from TRY 16.5 per kg.
Prior to the announcement, farmers and opposition party leaders were calling for a higher price increase, and demanding at least TRY 25 per kg, citing rising production costs amidst soaring inflation in Turkey. The rest of the industry was also bracing itself for a larger increase in price than announced.
The Turkish 2020/21 hazelnut production is anticipated to decline from last year, with varying production estimates reported across the hazelnut industry. Earlier this year, the International Nut and Dried Fruit Council (INC) estimated that the 2020/21 Turkish hazelnut harvest will fall by 22% year-on-year, to 620,000 tonnes. In Turkey, The Ministry of Agriculture and Forestry forecasts the 2020/21 hazelnut crop at 665,000 tonnes, while the Statistical Office of Turkey and the Black Sea Hazelnut and Hazelnut Products Exporters Association are projecting the output at 600,000 tonnes and 613,000 tonnes, respectively.
The harvest in Turkey is currently in full swing, with fresh hazelnuts in Giresun province being sold in free market for 15 to 16 liras.
The Mintec Benchmark Price of Turkish hazelnuts CFR EU was down by 3% month-on-month on 5th August, at USD 6.8 per kg.