The Turkish Hazelnut Price Increased by 14% WoW in W37

Turkish 2023 hazelnut harvest season began in late August and extended into early September. These prices are expected to rise further because farmers are hesitant to sell their hazelnuts at lower rates to processors. In W37, the FOB price for unroasted white hazelnuts (size 13-15) increased by 14% week-on-week, going from USD 8.10/kg in week 36 to USD 9.25/kg. Key suppliers in the hazelnut industry expressed concerns about the price instability at the World Food Istanbul exhibition. Offers were only valid for one hour and required a down payment. Additionally, high demand from China, a major hazelnut importer, is contributing to the price pressures in the hazelnut market.