In this episode, our trader Adam Johnston talks about the latest developments with hazelnuts and apricots.
Hazelnuts continue to be highly priced, and the estimates of the new crop are around 64000 tonnes, which is about average and much better than last year’s crop. Each day sees that number increasingly slightly. Good, settled weather in Turkey and any earlier damages to crop with weather seem to be recovered. How will this all affect demand and supply?
The first estimates for the apricot crop around 85,000 tonnes. Not a great crop, but much better than last year. Prices rose initially in April after some frosts, but new crop estimate pricing has weakened slightly but demand is expected to be high. Arrival of new crop into UK estimate to be around end of October, a little bit later than usual. We expect the 2013 crop to be completely sold out by the middle of July. Strong demand already for new crop material.