Arslan Soydan, Board Member of the Union of Turkish Agricultural Chambers: 'The steadfastness of our producers has raised hazelnut prices.
In Ordu, hazelnut prices in the free market have risen to 105 Turkish Liras. Arslan Soydan, Board Member of the Union of Turkish Agricultural Chambers, stated, "Our producers stood firm and only brought to the market the amount of hazelnuts needed, which contributed to the increase in prices."
Ordu, which produces the highest amount of hazelnuts in Turkey, announced a yield of 198,838 tons in 2023. On August 28, the Grain Board (TMO) started purchasing hazelnuts with 50% yield at 82.5 liras, while high-quality hazelnuts from Giresun were traded at 84 liras. With TMO's purchases, hazelnuts started trading at 70 liras in the free market and eventually reached 100 liras. However, after a period, prices fell back to around 85 liras when producers refrained from bringing hazelnuts to the market. When producers held back hazelnuts from the market, prices rose again to 105 liras.
"Our producers stood firm"
Arslan Soydan, a Board Member of the Union of Turkish Agricultural Chambers, mentioned that hazelnut prices, which had been around 85-90 liras for about two months, reached 105 liras again when hazelnuts were not supplied to the market. Soydan stated, "Our producers did not sell hazelnuts at 90 liras because they did not sell them at 100 liras. Our producers stood firm and only brought to the market the amount needed, which contributed to the increase in prices. During this process, our export figures continue to be good, and there is demand for hazelnuts. Producers expected the price to rise above the falling price, and now, due to the firm stance and patience of our producers, prices have increased. Currently, hazelnut prices continue at around 105 liras."
"We expect prices to increase, and this price will positively impact the 2024 harvest season."
Soydan explained that hazelnuts are gradually entering the market, producers still have stock, and the current price will positively affect the 2024 harvest season. He stated, "Our expectation is that it may exceed 105 liras. If the hazelnut yield is good, it finds buyers above 105 liras. The fact that hazelnut prices have reached these levels and will increase further will positively impact the 2024 harvest season. Prices higher than the current ones will be achieved."