Nuts

Hazelnuts: far from normal

March 28, 2022 9:33 AM, Der AUDITOR
Play report as audio

ORDU. Some normality has returned to Turkey’s hazelnut market as speculations are rife over the potential impact of frost. Rumour also has it that the TMO is planning the next round of sales. The current situation is, however, far from normal.

Inflation and frost

Issue is inflation, which is causing concern over elevated energy, fuel and food prices in Turkey. Hazelnut suppliers are already feeling the impact in Turkey’s domestic market. Demand would normally be high with Ramadan, which is just about to start on 02 April. Things are, however, different this year as exploding costs have limited people’s purchasing power. Although domestic demand has picked up to a certain extent, traders report that there is no chance the ability to buy will climb to levels witnessed in recent years.

Inflation will certainly also impact market prices, which currently range at TRY 39/kg for inshells and at TRY 78/kg for kernels size 11-13 mm and 13-15 mm. Traders reckon that the TMO intends to issue another round of sales in April over 15,000-20,000 mt for TRY 40-41/kg. Should inflation continue to rise, prices may range higher.

Speculations over frost-related damages are circulating in the market and have prompted some suppliers with large stocks to hold back until a clearer picture emerges. Traders have, however, largely dismissed claims over extensive crop damages, especially since reliable observers, who work for Ferrero, report that no damages have been witnessed so far. Although sub-zero temperatures may be witnessed in altitudes above 500 m, temperatures are rising at present and weather conditions are improving throughout Turkey.

Fixed prices

The Turkish lira may have lost in value against the euro and the USD at the start of March but has remained relatively firm over the past two weeks with minor fluctuations. Demand has reportedly picked up in Europe and especially in Southeast Europe. Prices have remained relatively firm since Mid-March with natural kernels, size 11-13 mm, trading in a range of EUR 5.37-5.50/kg (USD 5.90-6.04/kg)  DDP Central Europe.

Hazelnuts, Turkey

Size

EUR/kg

USD/kg

Natural, 11-13 mm

5.40

5.93

Diced, 2-4 mm

5.60

6.15

Meal, 0-2 mm

5.65

6.20

Paste

5.30

5.82

DDP Central Europe

 

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
May 25, 2022
ORDU. Over the last few weeks reality has kicked in that sufficient supplies are available, and attention shifted more towards the new crop. At present, the mood is, however, shifting in Turkey’s hazelnut market. Issue are strange dynamics. The market may also have to adjust production estimates for the new crop.
Nuts
May 25, 2022
MADRID/SACRAMENTO. While almond production will range 4% lower in California at 2.80 billion pounds, things are also far from encouraging in Spain. According to the National Nut Board production will range 30% lower than last year. Judging by experience, however, the estimates presented by this organisation tend to be rather conservative.
Nuts
May 23, 2022
NEW DELHI. Although the prices for peanuts have fluctuated in a narrow range in India in recent weeks, traders reckon that this is about to change. Issue are global factors, especially since production is under the weather in Brazil. Recently updated production estimates, however, tell a different story.
Nuts
May 19, 2022
ORDU. Economists reckon that Turkey is witnessing an unprecedented economic crisis of epic proportions. Hazelnut suppliers report the inflation is much worse than official figures suggest, and exporters are dealing on slippery grounds. The production estimates issued at the International Nut and Dried Fruit Congress also illustrate some surprising trends.