Hazelnut prices are on the rise because of concerns about crop damage. Hazelnut trees in turkey - the world’s largest producer of hazelnuts - bloomed early this month, but severe frosts at the end of March affected crops and the full extent of the damage is not yet known. This uncertainty has driven up prices, up 33.9% over the past month and 35.2% on this time last year.
Desiccated coconut prices remain high amid concerns about increased pest infestations, which threaten to reduce production output. The after-effects of Typhoon Haiyan also continue to weigh on the market, pushing up prices by 61.1% year on year.
Meanwhile, currant and raisin prices are cheaper than last year, thanks to increases in production. Unlike for hazelnuts, the recent frosts in Turkey did not affect the country’s raisin production, with increased competition from California also keeping a lid on prices.
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