We are following dried fruits and nuts industry carefully to give you a better insight about the major commodities. Please find brief market updates for Hazelnuts, Cashews, Brazil Nuts, Dried Apricots, Dried Mulberries and Sultana Raisins below. Heritage Trading Group will continue to publish latest dried fruits and nuts industry news and our comments at our blog.
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For more information about our products and market news of other products, do not hesitate to contact us.
Just before Turkish constitutional referendum which held on 16 April 2017, Turkish Grain Office (TMO) – government organization to support prices in agriculture industry – stepped into market and announced that they will start procuring hazelnuts starting April 24th with minimum prices of 10.00 TL/kg for Levant quality inshell hazelnuts and 10.50 TL/kg for Giresun quality inshell hazelnuts.
With this obvious political movement, prices increased sharply around 10% and market is very firm at the moment. Farmers are asking for higher base price level but still relieved as they were lobbying for it since the beginning of crop.
There is no significant frost damage at hazelnut growing regions this year, but last week farmers started “storm damage” rumours, which we think is a manipulative action.
New crop forecast for Turkish Hazelnuts will be announced at INC Congress – Chennai / India on May 19th and we will have more idea about harvest size and quality.
Hazelnut Paste Product Page
Cashew market going up continuously after it is clear that Vietnamese crop down 30% and quality is not looking good. African market was expected to cover loss of Vietnamese products with an optimistic crop, but now it’s been said that African crop in general is not good either. Demand is still strong and we can tell that prices are unlikely to decrease until Autumn and recommend buyers to cover their needs for 3-4 months especially for Whole Cashews if not industrial grades.
It is a fact that crop is 70% down for Brazil Nuts and prices are increasing continuously at origin – though there are almost no offers. We are now getting exclusive offers from origin (Bolivia) over 9.50 USD/lb for Medium and Midgets and even at these levels stocks are moving very fast – with an expectation that prices will exceed 10.00 USD/lb easily.
Importers in USA and Europe trying to cover as much as they can, especially the companies who use Brazil Nuts in luxury mixes. Right now it is not about the price but availability for Brazil Nuts.
We are offering Brazil Nuts directly from reliable packers at origin or spot in EU, so feel free to get in touch with us to check prices and availabilities.