The Giresun Commodity Exchange gains the right to take a loan of 9.3 million euros from the European Union to launch licensed warehousing business in hazelnuts. The project is expected to provide a solution to problems in excess supply and price instability.

The Ministry of Agriculture announced on Thursday that hazelnut farmers will be able to make great profits by switching to other cultivation options such as cut flowers and blueberries. Following the recent introduction of a “hazelnut strategy,” the government has announced it will take unauthorized hazelnut land out of production and encourage farmers to switch to other crops options.

Hazelnut production has become quite troublesome for producers due to government incentives deemed unsuitable by hazelnut producers. The overstocked inventories have caused prices to remain unstable, according to Hazelnut Promotion Group, or FTG.

Ondokuz Mayýs University (OMÜ) Faculty of Agriculture, Head of Plant Protection Department Prof. Dr. Sebahat Sullivan, indicated the necessity of the struggle for the chemical and biological acarus known as "Hazelnut Pests" in this period.

Hazelnut Promotion Group (FTG) stated that the state and the private sector have become competitiors with the fact that the problems about hazelnut come from the populist approach and the wrong policies of the government. FTG Co-Chairman Dursun Oðuz Gürsoy said: "We have come across with the unfair competition of the state."