The Black Sea Hazelnut and Products Exporters' Union (KFMÝB) President Oguz Gursoy Dursun, stated that; "Hazelnut sector is strongly affected by the devaluation of YTL and the increased pace of the global crisis."

Gursoy,indicated that with serious changes in the World Agriculture and Food Market and with increases in prices, the hazelnut harvest of 800-850 thousand tons have caused low price levels. 

“Especially, in the last month, as a result of the devaluation of Turkish money and the global crisis, increasing costs in the financial sector and credit crunches began to affect the hazelnut market profoundly. Hazelnut exports have also continued to incline in  October, in spite of the decline in September. As of November 9 hazelnut ecports have reached to 92.427 tons and increased 19.669 tons according to the same period of last year.

Credit crunch effect on export

For November, December, and for 2009, a very stagnant market of buyers is observed.  Furthermore, because of the credit crunches and increasing financial risks, hazelnut exports to Russia, Ukraine and Poland may be affected negatively.

Europeans canceled hazelnut from their prescriptionsý

One of the most important factors for the falling prices is that Europeans canceled hazelnut from their prescriptions, and the demand for hazelnuts is being limited. Indeed, Because of the fact that many manufacturers already have a current contract with the supermarkets, this change is not likely to happen this season. As a conclusion, exports and consumption growth in the domestic market will increase 10-15 percent based on an estimated export figures of last year.

Our expectation is 570 tons of hazelnut exports

This season, our produciton anticipation can be around 570.000 tons in total with 480.000 tons for export and 90.000 tons for domestic market.  However, domestic and foreign consumption figures may vary depending on YTL 's course in the face of foreign currency, the TMO's procurement and payment policy changes.