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
Sep 9, 2026
CAPE TOWN/CANBERRA. In major producing countries such as South Africa and Australia, the macadamia crop is expected to be significantly better than last year. This is already having an impact on prices. EU imports are on the rise.
Nuts
Sep 9, 2026
TEHRAN. Surprise in July was that Iran’s exports to the United Arab Emirates revived for pistachios, despite the ongoing disruptions. Exports to China have plummeted. Kernel shipments are gaining shares. Expectation is that a sharp decline in production will eat up the anticipated record carry-in supplies in 2026/2027.
Nuts
Sep 8, 2026
MANILA. The coconut market is showing the first signs of a firmer trend: whilst prices for desiccated coconuts remain stable, coconut oil prices are rising. At the same time, attention is increasingly turning to supply for 2027. Transport costs to Europe have fallen recently.
Nuts
Sep 8, 2026
DALIAN. Supplies are becoming more of an issue for pine nuts in China. Traders in Russia and Mongolia are behaving in an unusual way.