Hazelnuts: unexpected shift

January 9, 2023 at 11:36 AM , Der AUDITOR
Play report as audio

ORDU. Things have certainly turned crazy for hazelnuts in recent weeks. Not only have prices surged against all odds, for which Mondelez and Ferrero are partly to blame, but exports have also taken an unusual turn.

Twist in exports

Buyers in Europe may have been on holiday, but exports hit 10,626 mt worth USD 64 million in the last week of December. Shipments of pre-season contracts, in fact, intensified throughout December and total exports climbed to 130,606 mt worth USD 742 billion between 01 September and 31 December 2022. This is only 17% down in terms of volume and but 24% down in terms of value on the 157,715 mt of hazelnuts worth USD 977 billion exported in the same period in 2021.

Although exporters have been complaining about low demand throughout the season, the upsurge in December shipments has contributed to the recent price hike, which took suppliers by surprise. Domestic prices also rose to TRY 110/kg for raw Levant kernels size 11-13 mm and to TRY 116-117/kg for size 13-15 mm in the run up to new year amid limited supplies and an uptick in demand for bigger sizes. Suppliers also state that Mondelez and Ferrero bought large volumes in the domestic market. According to official reports the TMO was only able to purchase 131,000 mt of inshell hazelnuts.

Prices to remain high

At EUR 6.20/kg (USD 6.60/kg) the year has started off with prices not witnessed higher in January since 2020. Suppliers reckon that prices will remain at this level or even rise further if export demand continues at this pace. While demand will be remain driver in the next few weeks, attention will however eventually shift towards the new crop.

Hazelnuts, Turkey

Size

EUR/kg

USD/kg

Natural, 11-13 mm

6.20

6.60

Natural, 13-15 mm

6.65

7.08

Diced, 2-4 mm

6.90

7.35

Meal, 0-2 mm

6.25

6.65

Paste, premium

5.80

6.17

DAP Central Europe

 

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

View related articles

Go to the News Overview
Nuts
Oct 21, 2024
NEW DELHI/BRASÍLIA. In India, more and more goods are reaching the markets and the high availability will soon be reflected in prices. In the USA and Argentina, the acreage is larger and Brazilian exports are in sharp decline.
Nuts
Oct 18, 2024
FRESNO/ISTANBUL. With demand outstripping supplies for pistachios in the US speculations abound as to how far prices will rise in Europe. Turkey and Iran are, however, also important players.
Nuts
Oct 17, 2024
MANILA. Talks on the Free Trade Agreement (FTA) between the EU and the Philippines have resumed, while prices for coconut products are showing divergent trends on the European market.
Nuts
Oct 16, 2024
ORDU. Although market giant Ferrero has impossibly high quality expectations, the recent purchasing offers are having an enormous impact. Exporters reckon that the lira is overvalued. Even buyers in China are complaining about high prices.