Hazelnuts: poor harvest and prices up 70%

In Turkey, the price of hazelnuts has increased by 70% compared to last year, following a smaller harvest.

For Trabzon Commodity Exchange, the harvest this year is 25% lower than last year due to adverse weather conditions.

The harvest is smaller by around a quarter but prices have increased by 70%. The kilo is trading at 6.1 pounds this year compared to 3.6 pounds in 2010.

These prices will cause a decline in Turkish exports, especially since European production this year was higher than last year.

source : hurryiet daily news