Global Nut Shortage
13 January 2015
Warnings of global shortage of Hazelnuts

The price of hazelnuts has increased by more than 60% this year to a 10-year high after bad weather devastated crops in    Turkey, the world's biggest producer.

About 70% of the world's hazelnuts are grown on steep slopes near Turkey's Black Sea coast, but this year's harvest is likely to be sharply down after hail storms and frost in late March destroyed hazel flowers at a critical moment in the growing season.

The price of the nuts has reached $10,500 (£6,300) per tonne, compared with $6,500 (£3,900) per tonne in February, according to Michael Stevens, a trader at Edinburgh-based Freeworld Trading.

The full extent of the damage is not yet clear, but the Turkish industry is braced for a harvest that could be down to 540,000 tonnes, against pre-frost expectations of up to 800,000 tonnes.

It comes as food companies also face rocketing prices for almonds which are at a nine-year high, because of drought in California, the world's biggest grower.

Source: Guardian