Nuts

Hazelnuts: tough decisions

June 28, 2021 at 10:44 AM , Der AUDITOR
Play report as audio

ORDU. Local reports over shrubs losing large amounts of hazelnuts in Turkey have not been confirmed so far. However, the market is in disarray as producers backed the wrong horse in reckoning with an increasingly weak Turkish lira. Problem now is that the lira is much more stable than anticipated and suppliers have to backtrack. With prices drifting further apart buyers are prompted to act.

Lack of interest in long-term contracts

Reports over shrubs losing large amounts of hazelnuts have not been confirmed so far and inshell production is still expected to range just below 800,000 mt. As the Turkish lira is trading firmer again this has prompted exporters to raise their prices. One problem, however, is that producers had anticipated a weak Turkish lira prompting some to consider this in inssuing offers for this year's crop. Now they are waking up to reality. Issue is that the market is less willing to speculate on exchange rate fluctuations and that prices have to be adjusted.

Prices are in fact drifting further apart, even for raw kernels, with higher prices being issued more and more often. This has prompted some buyers to respond, which has nominally revived demand. Traders are, however, still dissappointed with the buyers' lack of willingness to commit to long-term contracts. And yet, it should be noted that the TMO still has to issue a bid price and that Ferrero's response will be decisive. 

 

Hazelnuts, Turkey

Size

EUR/kg

Natural, 11-13 mm 

5.30

Diced, 2-4 mm 

5.70

Meal, 0-2 mm 

5.50

Hazelnut paste

5.15

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
Apr 24, 2024
MANILA. Lower raw material production due to El Niño, rising freight costs and geopolitical tensions are just some of the hurdles the coconut market has to face. Market players are correspondingly cautious.
Nuts
Apr 22, 2024
NEW DELHI/BUENOS AIRES. In India, some states have significantly expanded their peanut cultivation and can now get involved in the market. In Argentina, prices appear to have bottomed out and the outlook in Brazil is anything but optimistic.
Nuts
Apr 22, 2024
REUS/NEW DELHI. The International Nut and Dried Fruit Council has revised the 2022/2023 production estimates for cashews upwards. Yet, prospects for 2024/2025 are far from encouraging. In India the market has started to turn.
Nuts
Apr 18, 2024
BRUSSELS/REUS. Imports from Russia may have declined sharply for pine nuts since 2022, yet the country still holds a key position in the EU. Global production fell sharply in 2023/2024.