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Essentially, there is hardly any change from the previous week. The persistent weather conditions on the Black Sea coast continue to slow down the market. Although sufficient quantities are currently being delivered for immediate demand, we increasingly hear about quality problems (insufficient drying, too high a proportion of mouldy kernels, aflatoxins, etc.). The weather forecast for the coming week is still not consistently good so that the market is not expected to gain momentum. In the western regions, things are currently looking better than in the eastern Black Sea region. Here, the farmers are also more particular about their price demands due to the market leader’s focus on this region.

After a large part of the booked delivery dates at the TMO lapsed because the goods were not ready at the time of delivery, we are now hearing from the TMO that they want to expand their purchasing activities. More purchase points are to be opened, and payments to farmers are to be made at shorter notice than before. So far, only about 3,000 mt have the TMO, and here, too, we hear of refusals to accept due to insufficient quality.

If the quality problems are confirmed in the coming weeks, we will probably have a two-tier market for the rest of the season. There will probably be a market for high-quality natural nuts and demand for processed goods characterised by low-priced offers. A tendency towards this can already be seen in the proposals. While the recommendations for raw kernels are close together, a wide price range can be observed for the preparations.

For the coming week, we expect the market leader to announce its purchase bid for raw kernels. Then, the local crackers and the exporters will possibly change their focus. From the demand side, there is also increasing interest for cover in 2022. There are hardly any enquiries for short-term dates.

The Turkish lira remained at the same level for most of the week. Towards the weekend, however, it weakened again.

  • Unstable weather conditions cause delays in the drying of the kernels. There is still no improvement in sight.
    Increasing concern about quality issues due to slow drying.
  • TMO announces an expansion of purchasing activities.
  • Offers for natural kernels are pretty close together—the increasingly wide price range for processed goods.
    Market leaders and exporters are currently showing interest in buying.
  • We are also registering increasing buying interest from Europe.
  • The Turkish lira is trending somewhat weaker again towards the weekend

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