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  • Minimum hazelnut prices second-highest on record

    Sep 14th, 2015

    <p></p><p>Oregon’s hazelnut growers didn’t expect a repeat of last year, when a disastrous freeze in Turkey brought record prices as candy, spread and snack makers chased replacement supplies.But this season’s initial minimum price of $1.22 a pound for field-run hazelnuts, announced by the Hazelnut Growers Bargaining Association, is the second highest on record.The starting price packers were willing to pay last year was $1.70 a pound, thanks to the freeze that decimated the world’s leading nut producing region, and the price jacked up to $1.81 by season’s end.Oregon produces only 5 percent of the world supply, but is nonetheless the second-leading production area and was ready when buyers came calling.Bargaining association President Doug Olsen said the 2015 starting price is fair, considering the circumstances.“Everybody knew the price was going to come down,” Olsen said in a news release. “Last year’s was an anomaly.” <br></p> <p>Turkey expects a good crop this year, while currency devaluations there and in China — a major buyer of Oregon hazelnuts — make American products more expensive by comparison.In addition, an over-supply of walnuts gives end users another nut option, according to the bargaining association’s news release.Oregon growers are projected to produce about 39,000 tons of hazelnuts this year. Willamette Valley growers have been adding 3,000 to 5,000 acres per year for several years running. In some cases, farmers have replaced grass seed or row crops with hazelnut orchards.<br></p><p></p>


    Source: www.capitalpress.com
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