Nuts

Hazelnuts: failure to generate demand

February 9, 2023 at 12:33 PM , Der AUDITOR
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ORDU. Demand or rather the lack of it certainly is the issue for hazelnuts this season. Yet, prices surged in Turkey. Although the TMO’s decision to sell came as a shock to suppliers, the impact is most welcome.

Demand is the issue

Prices, in fact, unexpectedly surged in December driven by limited availability of raw nuts and surprisingly strong exports as Mondelez and Ferrero apparently bought more than anticipated. Exports were indeed strong in December 2022 as Turkey exported 41,751 mt of hazelnuts (inshell basis) worth USD 244 million, which is only 4% down in terms of volume and 1% down in terms of value on the 43,573 mt worth USD 247 million exported in December 2021 as figures released by the Black Sea Exporters Union show.

Exports, however, fell back to 20,3

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