2018 Commodity Market: Hazelnuts

October 8, 2018

Hazelnuts:

Grown in:

Turkey, Georgia (former USSR), Italy and Oregon

Harvested in:

August/September

New crop:

640,000 tons, which is down 20% from last year’s crop of 800,000.

Prices:

Possible decrease as long as we can get supply without quality rejections.

Political Landscape:

    • The Turkish Grain Board (TMO) is the political organization that influences price. TMO has announced an increase to its purchasing price of in-shell hazelnuts with effect from June 1.
    • Global trade disruptions and political uncertainty is impacting the Turkish lira.
    • An important driver for the Turkish hazelnut market remains to be the USD / TLR rate, which was affected by political tension between Turkey and the U.S.

Specifics on 2018 Hazelnut Crop:

    • Turkey still dominates the world hazelnut industry, generally producing about 75 percent of the world’s total. However, recent weather and disease issues affecting Turkey’s crops have increased demand from the United States.
    • Quality concerns may prevent many shipments from Turkey being allowed into the U.S.
    • Oregon crop double the size of last year’s crop.

 

Read More about 2018 Commodity Market Reports for:

Almonds

Brazil Nuts

Cashews

Macadamias

Peanuts

Pecans

Pistachios

Walnuts

Tags: commodities, commodity market, commodity report, hazelnuts, nuts

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