Free of charge

Hazelnuts: lira takes centre stage

October 18, 2021 at 11:21 AM , Der AUDITOR
Play report as audio

ORDU. Turkey’s hazelnut market was plunged into chaos again after the lira recently slumped to new lows against the euro and US dollar. Disaster struck after President Recep Tayyip Erdogan fired three central bank policy makers, who are claimed to have opposed last month’s interest rate cut. Concern is that more interest rate cuts will follow despite inflation being high, possibly even this week as the next policy meeting will be held on Thursday.

Wide price gaps

Turkey’s unreasonable monetary policy is, however, not the only problem. Quality is an issue and prices differ widely, especially for processed nuts. Although good weather conditions in recent days have helped harvesting along with more arrivals pouring in, reports are still being issued over quality concerns. Prices have also drifted further apart with traders reporting that Giresun quality natural hazelnuts, size 11-13 mm, are trading as low as USD 5.80/kg and Levant quality, size 11-13 mm, at USD 5.75/kg CIF Hamburg.

The 3.5% slump in the Turkish lira has indeed prompted a decline in export prices, albeit to not quite an extent as may have been expected. Issue is that raw material prices have risen slightly and range much higher than last year. Raw hazelnut kernels, 11-13 mm are, for instance, trading firm at TRY 48.50/kg in the domestic market. The attractive prices have, nevertheless, persuaded some buyers, who had been waiting for weeks, to act.

Hazelnuts, Turkey

Size

EUR/kg

Natural, 11-13 mm, DDP Central Europe 

5.50

Raw, 11-13 mm, CIF Hamburg

5.20

Raw, 13-15 mm, CIF Hamburg

5.30

Organic, 11-13 mm, CFR Hamburg

6.20

Trade sources, prompt shipment

Export prices set to rise

On top of this, the TMO has continued buying unabated by recent events. The state-run organisation had purchased around 60,000 mt by the end of last week and is certainly on course to meet the target of 100,000 mt. Traders reckon hat export prices will rise as carrying capacities are becoming more of an issue and costs are up.

 

View more
price chart, hazelnut kernels, natural, Turkey
price charts for edible nuts, dried fruit, oilseeds and more

Attached Files

File icon
price chart hazelnut kernels natural Turkey

View related articles

Go to the News Overview
Nuts
Apr 29, 2025
SACRAMENTO. Land IQ has issued a rather upbeat initial acreage estimate for California’s 2025 almond crop. Growers are, however, voicing concerns.
Nuts
Apr 28, 2025
HANOI. Despite the import taxes on Vietnamese cashews, the USA remains the most important buyer, accounting for 22.7% of total exports. Vinacas reckons that this will remain the case in 2025.
Nuts
Apr 28, 2025
TORREÓN/REUS. Imports from Mexico may be exempt from Trump’s tariffs but US exporters are losing out in China. Demand is high. South Africa is gaining market shares.
Nuts
Apr 25, 2025
ORDU. Initial estimates circulating about the extent of the frost damage for the 2025 crop are highly discouraging. The TMO has stopped selling hazelnuts and buyers are responding differently to the current market situation.