Hazelnut Market Update
Hazelnut Market Update: Weather & Political Turmoil Impacting Trade
The hazelnut market in Turkey is currently navigating a complex landscape shaped by recent weather events and political uncertainty.
Mixed views on snowstorm impact
Last week’s snowstorm has sparked differing opinions among suppliers. Some report minor crop damage in Ordu’s high-altitude regions, while others believe the impact is negligible as hazelnut shrubs in these areas have yet to blossom. A clearer assessment is expected in the coming weeks.
Pest threats take center stage
Concerns are shifting towards the brown marmorated stink bug, a known threat to hazelnut crops. Advisors are actively working with farmers to implement trapping measures to mitigate potential losses.
Political & financial instability affecting trade
The ongoing protests following the arrest of Istanbul Mayor Ekrem İmamoğlu, coupled with the Turkish lira’s depreciation, have slowed domestic demand and complicated price-setting. However, central bank intervention has provided some stability, with most exporters keeping prices firm.
We will continue monitoring these developments closely. Stay tuned for further updates as the market evolves.