Hazelnuts are a popular nut that can be used in a variety of dishes, from baked goods to savory dishes. But how much do they cost?
The price of hazelnuts can fluctuate depending on a variety of factors, including global events and market forces. In this article, we’ll take a closer look at the current price range for hazelnuts in the US and Europe, as well as the factors that can affect their cost.
Whether you’re a baker looking to stock up on ingredients or just curious about the cost of this delicious nut, read on to learn more.
How Much Are Hazelnuts Per Pound
As of 2023, the approximate price range for US Hazelnuts is between $3.59 and $4.04 per kilogram, or between $1.63 and $1.83 per pound. This price range can vary depending on the region and market conditions.
In addition to the current market price, there are several other factors that can affect the cost of hazelnuts. Global events, such as trade disputes or currency fluctuations, can impact the market field price for hazelnuts. Closer to home, processing margins paid to packers can also affect the field prices paid to growers.
However, the hazelnut industry has made significant strides in recent years to provide stability and transparency in the buying and selling of hazelnuts. The Hazelnut Growers Bargaining Association (HGBA) has been instrumental in setting grower field prices to the maximum advantage of growers, while also providing transparency and stability for processors.
Thanks to these efforts, gone are the days of field prices less than $.30/lb., which often didn’t even cover the cost of production. Today, hazelnut growers and processors work together to ensure a strong industry for future generations.
Factors That Affect The Cost Of Hazelnuts
There are several factors that can affect the cost of hazelnuts, including global events, processing margins, and market conditions.
One major factor is global events, such as trade disputes or currency fluctuations. These events can impact the market field price for hazelnuts and ultimately affect how much growers receive for their crops.
Another factor is processing margins paid to packers. These margins can affect the field prices paid to growers, as packers may need to adjust their prices based on their own costs and profit margins.
Market conditions also play a role in determining the cost of hazelnuts. For example, a glut of nuts on the market can drive prices down, while high demand can drive prices up.
Despite these factors, the hazelnut industry has made significant strides in recent years to provide stability and transparency in the buying and selling of hazelnuts. The HGBA has been instrumental in setting grower field prices to the maximum advantage of growers, while also providing transparency and stability for processors.
Thanks to these efforts, hazelnut growers and processors are working together to ensure a strong industry for future generations. While market conditions may fluctuate, the industry is taking steps to mitigate the impact of external factors and provide stability for all parties involved.
Hazelnut Prices In The US
In the US, hazelnut prices can vary depending on the region and market conditions. As of 2023, the current approximate price range for US Hazelnuts is between $3.59 and $4.04 per kilogram, or between $1.63 and $1.83 per pound.
However, it is important to note that global events and market forces can impact hazelnut prices in the US. For instance, trade disputes, Turkish crops, and Turkish currency troubles can affect the market field price for Oregon hazelnuts.
Moreover, processing margins paid to packers can also affect the field prices paid to growers. In this regard, the Hazelnut Growers Bargaining Association (HGBA) has been instrumental in setting grower field prices to the maximum advantage of growers while providing transparency and stability for processors.
Despite these challenges, the hazelnut industry has come a long way in recent years through open dialogue, cooperation, and trust established between growers and processors. The industry’s commitment to building on its traditions has served it well, ensuring a strong industry for future generations.
Hazelnut Prices In Europe
When it comes to hazelnut prices in Europe, the cost can vary depending on the region and market conditions. For example, in Italy, one kilogram of hazelnut in Rome and Milan is around USD 7.20, or EUR 8.708112. The prices of hazelnuts per tonne in Italy for the years 2016 through 2019 were US$ 9,349.82, US$ 8,726.70, US$ 8,696.83 and US$ 7,694.00 respectively.
In Spain, the price of Negreta hazelnuts has been stagnant at 4.50 Euro per kilo for over a month. However, this price hardly covers the production costs, according to Rafel Español, head of the nut sector of Unió de Pagesos.
Meanwhile, in Turkey, hazelnut growers have ramped up production this year, driving down prices for growers in Oregon. The Hazelnut Growers Bargaining Association said that Oregon growers will get a starting minimum price of 96.5 cents per pound for their crop this fall. This is lower than last year’s starting price of $1.18 per pound and a big drop from the record price of $1.70 per pound in 2014.
With all these factors at play, it’s clear that hazelnut prices in Europe can fluctuate significantly based on various market conditions and global events. However, efforts by industry organizations such as the Hazelnut Growers Bargaining Association have helped to provide stability and transparency in the buying and selling of hazelnuts for growers and processors alike.
Hazelnut Varieties And Their Costs
Hazelnuts come in different varieties, and their prices can vary depending on the type of hazelnut. For instance, in 2021, growers received 90 cents per pound for the Barcelona shell variety and 97 cents per pound for the Jefferson shell variety. Meanwhile, hazelnuts produced for grains reached at least 90 cents per pound in Oregon, which is 25 cents more than the minimum price for in-shell harvesting.
It’s worth noting that uncertainties over shipping hazelnuts in shell to China, its main destination, have caused its initial minimum price to differ from that of the grain harvest, which faces a more stable market. Additionally, China’s tariffs have put downward pressure on the prices of US hazelnuts. As a result, some major importers are driven out of business due to these issues. The logistics of exporting hazelnuts to China are also unclear.
Despite these challenges, the hazelnut industry remains optimistic about its future. Turkey is the largest producer of hazelnuts in the world, but the US imports about 45% of the filberts (hazelnuts) it consumes annually. This means there is room for expansion and a bright future is expected for the filbert industries of Oregon and Washington.
Where To Buy Hazelnuts For The Best Price
If you’re looking to buy hazelnuts for the best price, there are several options available to you. One option is to buy hazelnuts in bulk. Many online retailers offer bulk purchases of hazelnuts, which can often result in significant savings per pound.
Another option is to look for local farmers markets or specialty food stores that sell hazelnuts. These sources may offer fresher and more unique varieties of hazelnuts, but may also come with a higher price tag.
It’s important to consider the quality of the hazelnuts when making a purchase. Look for hazelnuts that are fresh and free from any mold or damage. Additionally, consider the variety of hazelnut you are purchasing, as some varieties may be more expensive than others.
Ultimately, the best way to find the best price on hazelnuts is to do your research and compare prices from different sources. Don’t be afraid to ask questions about the quality and variety of the hazelnuts before making a purchase. With a little bit of effort, you can find high-quality hazelnuts at a great price.
Tips For Storing Hazelnuts To Maximize Freshness
Hazelnuts are a delicious and versatile nut that can be enjoyed in many different ways. Whether you are buying them in bulk or harvesting them yourself, it is important to store them correctly to maximize their freshness and flavor. Here are some tips for storing hazelnuts:
1. Store Hazelnuts in an Airtight Container: Once you have opened the package or container of hazelnuts, transfer them to an airtight container to keep them fresh. This will help to prevent moisture and air from getting in and spoiling the nuts.
2. Keep Hazelnuts in a Cool, Dry Place: Hazelnuts should be stored in a cool, dry place such as a pantry or cupboard. Avoid storing them in areas that are exposed to direct sunlight or heat, as this can cause the nuts to spoil.
3. Split Hazelnuts into Smaller Batches: To ensure that your hazelnuts stay fresh for as long as possible, split them into smaller batches. Keep one batch in the pantry for immediate use, store another batch in the fridge for use within a few weeks, and freeze the remaining batch for long-term storage.
4. Dry Freshly Harvested Hazelnuts: If you are harvesting hazelnuts yourself, it is important to dry them properly before storing them. Spread them out in a single layer on trays or screens in a warm, dry place out of the sun. Turn them every few days until the outer bracts are easy to remove. This should take about two to four weeks.
5. Roast Hazelnuts for Maximum Flavor: Roasting hazelnuts can help to enhance their flavor and aroma. Spread the nuts out on a baking sheet and roast them in the oven at 350°F for 10-15 minutes, or until they are golden brown and fragrant.
By following these tips, you can ensure that your hazelnuts stay fresh and delicious for as long as possible. Whether you are using them in baking, cooking, or snacking, properly storing hazelnuts is essential for getting the most out of this versatile nut.
