Hazelnut Market Outlook: TMO and Ferrero Collaboration Marks New Impulse

In the aftermath of Sunday's nationwide local elections in Turkey, President Recep Tayyip Erdoğan and his ruling AK Party face significant challenges. Amidst this political shift, the Turkish Grain Board (TMO) and Ferrero emerge as key players in the hazelnut market, poised to make decisive moves.

TMO's Strategic Role:

The recent electoral defeat suffered by Erdoğan and the AKP signals a pivotal moment in Turkish politics, with economic concerns at the forefront. As inflation rates soar and financial support for exporters dwindles, the TMO's substantial hazelnut reserves—reportedly exceeding 100,000 metric tons—come into focus. Analysts anticipate that the TMO's potential entry into the market could significantly impact hazelnut prices. The response from Ferrero, a major player in the hazelnut industry, will also shape market dynamics.

Stability Amidst Change:

Despite political uncertainties, the hazelnut market demonstrates resilience. While prices experienced a notable surge in March, the market has since stabilized. Although quotations remain elevated compared to previous years, the overall market stability provides a promising outlook for stakeholders.

Export Performance:

Despite market fluctuations, hazelnut exports remain robust. Average export prices have seen a substantial increase of 24% compared to the previous year, reaching USD 7.32 per kilogram. Total exports for the season amount to 185,563 metric tons, representing a marginal 6% decrease from the previous year. However, in terms of value, exports have surged by 17% to USD 1.3 billion, underscoring the market's
resilience amidst challenging circumstances.

How Momex Supports Hazelnut Traders:

Amidst market volatility, Momex offers a reliable platform for hazelnut traders to navigate uncertainties and capitalize on opportunities. With real-time market insights and seamless transactional support, Momex empowers traders to make informed decisions and optimize their hazelnut trading activities. Join Momex today to access a secure and efficient trading environment tailored to your needs.

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Resources:
https://www.mundus-agri.eu/news/hazelnuts-tmo-provide-impulse.n32645.html