Big overseas hazelnut crop cuts prices for Oregon growers

EUGENE, Ore. (AP) — A bumper hazelnut crop in Turkey has led to lower prices for growers in Oregon.

The Hazelnut Growers Bargaining Association said Tuesday that Oregon growers will get a starting minimum price of 96.5 cents per pound for their crop this fall. That’s a big cut from last year’s starting price of $1.18 per pound.

Oregon produces nearly all of the hazelnuts in the United States, but only 3 to 4 percent of the world’s supply. Turkey leads the world in hazelnut production, and it had a massive crop this year.

The value of the Turkish lira also continues to fall, which makes Turkish hazelnuts a better buy for international buyers.

The Register-Guard reports that Oregon exports about half of its annual crop to international markets.