Turkish state opens hazelnut stocks to the world
The state grain board, TMO, was appointed gatekeeper of the Turkish hazelnut industry in 2006. Since then, it has built up some 590,000 tonnes of stocks.
Although the EU is the biggest buyer of Turkish nuts, private buyers usually do business directly with farmers and export the nuts themselves. Now, however, there is considerable interest from private firms in buying up the reserves, according to Reuters.
TMO has set prices for Levant-quality hazelnuts at between $2.83 and $6.32 a kg; Giresun quality hazelnuts cost between $3.84 and $7.68 a kg.
“The TMO has the world’s largest hazelnut stocks and we decided to export them for the first time as we saw a supply deficit in the market,” TMO chairman Mesut Kose is quoted as saying by Reuters.
However last September Turkish newspaper Today’s Zaman reported that TMO was anxious about the large stocks it was amassing, as its depots were full as of September 2008, and was casting about for an outlet.
Within the EU, Spain and Italy are major suppliers, but Turkey is said to account for around 80 per cent of exports. Hazelnuts are used in confectionery and bakery preparations, as they are a key component in pralines and in Nutella chocolate spread. The TMO puts the on-going demand down to chocolate being less affected by the recessionary squeeze than some luxury food categories.
Turkey is, however, expecting to see lower production in 2009, and so will keep back a portion of its stocks to ensure consistent availability.
Following a bumper crop last year, in September the TMO set low prices for farmers for their hazelnuts, at 4 lira a kg (c $2.56). This prompted unrest from farmers, who had received more than 4 lira the previous year.
