Nut prices hit by extreme weather conditions in supplier countries

Will Green is news editor of Supply Management
23 August 2014

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24 August 2014 | Will Green

Prices for hazelnuts and desiccated coconut have rocketed due to the effects of extreme weather in grower countries.

According to Mintec, desiccated coconut is up 74 per cent year-on-year to $2.76/kg (£1.67) in August due to the lingering impact of typhoon Haiyan in south east Asia which struck in November 2013, while the continuing typhoon season is keeping prices high.

Hazelnuts are up 52 per cent year-on-year to $10.40/kg (£6.28) due to a severe frost in March that hit the crop in Turkey, the world’s largest supplier.

However, prices for almonds and brazil nuts have eased slightly, with almonds up 7 per cent year-on-year to $8.50/kg (£5.13) but down on peaks earlier this year, following efforts from US farmers to improve irrigation in the face of drought conditions.

Brazil nuts are down 2 per cent to $8.47/kg (£5.11) as the effects of heavy flooding eased in top producer Bolivia.

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