On 1st September, the TMO (Turkish Grain Board), a Turkish intervention agency, started purchasing the 2021/22 hazelnut crop. There has been a profound hike in this year’s TMO purchasing prices, which the agency announced in mid-August. Hazelnut farmers who deliver their produce to TMO-held warehouses receive TRY 27/kg for Giresun quality hazelnuts and TRY 26.5/kg for Levant quality hazelnuts. Last year, it was TRY 22.5/kg for Giresun quality and TRY 22/kg for Levant quality hazelnuts.
TMO’s general manager, Ahmet Güldal, also said that the agency will be actively involved in hazelnut procurement until the end of the year. He also noted that last year’s stocks have been depleted, and the TMO presently does not hold any stocks from previous harvests. The TMO could not procure substantial hazelnut volumes in 2021/22 as farmers mostly opted to sell in the free market where prices were more attractive.
For the current 2021/22 season, Turkish media reported solid interest from farmers to sell their stocks to the TMO on the first day of the new hazelnut purchasing campaign.
The Mintec Benchmark Prices of Turkish hazelnuts delivered on a CFR basis Northwest Europe rose 1% in the week of 26th August, and up 3% m-o-m at USD 690/100kg.