The poor hazelnut harvest in Turkey has driven up prices on the global market.

The hazelnut harvest in Turkey, the main exporter of these nuts globally, has sharply declined this year, with expert estimates indicating a drop of 100,000-200,000 tons compared to usual amounts to below 500,000 tons, reported the online publication FreshPlaza. The decline is due to spring frosts in Turkey and Eastern European countries. According to José Gutiérrez Fernández, an analyst at S&P Global Energy, the average price of 11-13 millimeter caliber hazelnuts in October rose to about $18 per kilogram, which is twice their value from last year. The expected low quality of some of the harvest further increases the prices of premium batches. This affects markets worldwide, as Turkey has for decades provided over 70 percent of the supply. In this tense balance, some Turkish producers succumbed to the temptation to mix new crop hazelnuts with old stocks, which is prohibited. However, this strained relations with Italian chocolate and confectionery manufacturer Ferrero, the world's ...