Hazelnut market - update April 2020
Updated: Jun 10, 2020
The hazelnut market is very firm at the moment and prices from Turkey increased a lot in the last couple of days. There is frost reported in some major Turkish hazelnut regions on 16/17/18/19/20 March and 23/24 April 2020. As a result of this, damages have been observed, certainly for orchards above 400 meter altitude. What the final impact of these damages will be on the crop is still unclear. This has fueled bad rumours that the new crop of 2020 will be substantially lower compared to last year. Also in Italy reigns the feeling that there could be problems in availability for the new crop but it is at the moment way too early to make forecasts. Italian organic hazelnuts are as good as sold out. Demand for hazelnuts in Europe is at the moment limited but if demand would increase, prices could increase more. It is to be expected, once the different countries have worked out and executed their Corona exit strategy, that demand will increase.