Turkey, as the biggest producer and exporter of hazelnuts, is determining the flow and prices at the world market as always.
The sentiment of the Turkish hazelnut industry seems to be -mainly- driven by the today and forecasted weather conditions. While the interference of the Turkish TMO was indicated as the most important factor for further developments, no big differences are seen, due to the slow supply & demand these weeks.
The early blooming, boosted by the warm weather was good but also increasing the risk of any potential frost damage for the new crop as it is still early in the season. As long as the risk on frost remains, which is till the end of March, most suppliers will sit and wait until the period of any potential frost has passed.
In the forthcoming months, we will see the crop quantity expectation and price forecasting more clearly. March is about to end and potential frost risk seems passed according to the weather forecast information.