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Hazelnuts: Will the market collapse?

January 31, 2017 at 2:46 PM , Der AUDITOR
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ORDU. The market for hazelnuts fulfilled expectations, even if the circumstances which led to this outcome were not foreseeable.

Since the beginning of the season prices for Turkish hazelnuts had given way considerably, mainly due to the decline of the Turkish Lira. Local buyers were confronted with comparatively high prices for raw nuts while buyers from the Euro-region were still pleased to find hazelnuts relatively cheap this week.

Turkish hazelnut kernels

Product 

EUR/kg

natural, 11-13 mm 

6.59

diced, 2-4 mm 

6.90

meal, 0-2 mm 

6.60

hazelnut paste

6.20

DDP Germany

 
Carry-over stocks in spite of weak harvest
Around this time of year on average about 54% of total exports for the season have already taken place. If this experience is applied to 2016/17, exports should be at a total of 211,000 mt. Thus large carry-over stocks from 2015 and declining sales on the local market could lead to considerable carry-over stocks at the end of this season in spite of the bad harvest in 2016. The quality of the last crop was not ideal and in terms of quantity opinions still vary. Depending on the source figures given range from 410,000 to 490,000 mt of hazelnuts in shell.

Good Conditions
For the harvest of 2017 conditions so far are ideal. Should the hazelnut shrubs remain unscathed by frost until mid-April prices can be expected to drop. The exchange rate in the coming weeks and months will also be a decisive factor. Market participants expect prices to remain stable or fall only slightly for a while yet.

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Price chart hazelnuts

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