Hazelnut Market Update February 2022 Week 6

After a dramatic end to 2021, the hazelnut market has been quite stagnant. However, this isn't too concerning as it is normal for the market to be in recession at this time of the year.

Since stocks have finished yet, there isn't much activity in the market. Companies determine that their stocks will run out soon, but- again- this is quite standard for the industry.

Any new contracts made will be determined according to how soon stocks will run out. But it is expected that the companies that mainly work with supermarkets will make demands for the 2022 harvest.

From the TMO, there has still been no announcement for future pricing. This announcement is expected to attract buyers as they will be able to see what sellers can offer in the long term, thus generating demand.

However, this demand won't necessarily lead to a lot of sales.

It is worth noting that sellers are still reluctant to sell, as they expect a rise again since the hazelnut prices reached their peak in the past months. Farmers have a lot of stock, and their positions are strong too.

We will update you as the situation develops.