Hazelnut Market Update February 2022 Week 7

In January 2022, the hazelnut market's export volume was around 31,963 MT, marking the highest export volume reached in the month of January in the past five years. However, the cargo's export value is noted to be one of the lowest in the last three months of the 2021/22 period, with October 2021's figures being close to 38,603 MT, November at 45,642 MT, and December at 43,791 MT.

So, in terms of cargo, there's a decline in January 2022. But this isn't something major as it doesn't affect sellers' motivation in the short term.

Of course, it is worth noting that if this downward trajectory in demand continues, and if the yield is higher than expected, there may be no increase in prices.

Therefore, it is worth noting whether there will be resistance in prices in the long term.

Another factor to consider is that January is usually considered to be a stagnant month. So, it would be unreasonable to base long-term business commitments based on January's export values. In fact, for the past five years, export values in February have always been consistently higher than in January.

In the end, we'd like to say that whatever happens in the market really depends on the Turkish government's monetary policies and the state of the Turkish Lira. 

Currently, most market predictions are made on the basis that, as assured by the government, the Turkish Lira will be stable against the US Dollar/Euro. However, we have learned that sharp devaluation or currency fluctuation can bring the market into free fall where no one really knows what will happen.