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Hazelnuts October 2, 2020

While most nuts are still very low priced and only expect slight price improvement as their best scenario, is the Turkish hazelnut market on fire once again. The poor flow of raw material to the local market seems to be the main reason for further increasing prices at the moment. On top of the already slow pace of raw material, are rumors about a smaller than anticipated crop adding extra fuel to the fire. The resistance towards increasing prices seems weak, as several parties are simply obliged to source their contracted needs on the local market. Neither is strong resistance coming from the export markets, as the deprecation of the Turkish Lira is keeping export prices stable in USD terms.