The new crop hazelnut flowering in Turkey so far has not been ideal.
Cold weather mid-February was followed by warmer temperatures and a relatively early bloom triggered in some areas. Then last week, there were reports of frost damage as the temperatures fell again with snowfall on higher altitude orchards.
Although their export demand has been quite sporadic since the start of their season, the stockholders are digging in at present levels and are unlikely to ease back down until they have a clearer idea, in the coming months, as to how 2021 crop will likely come in.
Their prices are way higher than Turkey and South Africa, but as usual, the Californian processor/ exporters are less fussed about that and continue to believe that their crop is superior and should command a premium.
This has been a strange season so far on Bulgarian sunflower with the impact of a long feared shorter crop; strong demand for sunflower oil (amongst an intense edible oil feeding frenzy) and really strong demand from across Europe and beyond combining to create the perfect storm for sunflower seed prices to breach their traditional traded range and climb to new historical levels.
Mark Setterfield – March 2021