Hazelnut Market Update 2021

As mentioned in our last market report, it is becoming  abundantly clear that the Turkish Lira will depreciate further. As New Year’s approaches, however, the market has started to calm down and in spite of its inevitable depreciation, the Turkish Lira prices have gotten much more stable compared to last week.

The FED’s announcement is expected to reduce bond purchases due to this while the US’s expected high inflation is projected to cause contractions in the market and affect currencies of developing countries globally. 

This will lead to further depreciation of the Turkish Lira and cause a decrease in export prices. Due to the changes in the money market, there is an advantage for companies who have been waiting for prices to drop for their 2022 needs.

So, if buyers are planning to buy their 2022 hazelnut supply sometime this month and in December, it might be a good idea to start looking. However, as we have already seen quality problems with premium hazelnuts this year, it is very important to consider where you should buy your stock to begin with.