Turkey

Turkish Oriental Tobacco production is projected to reach 48 million kilos in 2024, a 20% decrease from the previous year. The reduction in crop size is attributed to dry weather conditions during the growing season. Additionally, high interest rates in Türkiye have affected companies' ability to provide advance payments to farmers (80% of the sales price), causing some farmers to switch to other crops. Harvesting is expected to begin in mid-August. The crop quality is expected to be good, with the average green price in the Izmir region anticipated to be around USD 5.40.