11 August 1997
Turks anger EU rivals with hazelnut subsidies

TURKEY is expected to announce another round of subsidies for its hazelnut farmers this week. The move will infuriate competing growers and traders in the European Union (EU).

A similar sum to that of last year is expected to be made available. It was equivalent to $212 million (£134m) in 1996. This was used to buy local stocks to create a buffer of 137,500 tonnes of hazelnuts – about 25% of the world crop.

The buffer stock is influencing world prices.

  • Financial Times 11/08/97 page 19