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Record Frost Drives 30% Spike in Turkish Hazelnut Prices

Major buyers plan to secure alternative supplies in response to forecasts of further price rises.

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Overview

  • Wholesale hazelnut prices in Turkey have climbed about 30% since April after the worst spring frost in over a decade.
  • Agricultural intelligence firm Expana forecasts continued price increases ahead of the August–September harvest.
  • Ferrero has said it will tap alternative sources in Italy, Chile and the United States to cover any shortfall.
  • Turkey’s main exporter group has cut its 2025 harvest forecast by 20% to roughly 609,000 tonnes.
  • Investors such as Evli have boosted holdings in Turkish processors anticipating sharper supply-driven price spikes.