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ISHS Acta Horticulturae 340: XII International Symposium on Horticultural Economics

ALMOND AND HAZELNUT INTERNATIONAL PRICE RELATIONSHIPS

Authors:   I. Yalçin, J. Briz, L.M. Albisu
DOI:   10.17660/ActaHortic.1995.340.48
Abstract:
Almond and hazelnut exports have had a great increase during the last 20 years but real prices have been constantly declining. United States has been gaining almond world market share and it actually reaches 80% of total world exports; Spain is the second largest exporter. Turkey is the greatest hazelnut world exporter with 70% of total world exports; Italy and Spain are the followers.

In this paper almond and hazelnut export price relationships are investigated by means of econometric estimations. Four independent econometric equations have been set up to determine export prices for USA almonds, Spanish almonds, Turkish hazelnuts and Spanish hazelnuts.

Exported quantity, competitive commodity exporting prices and exchange rates (main importing currencies with respect to dollar) have been the independent variables. Annual data has been used from 1975 till 1990.

The main ordered factors affecting USA almond export price are: USA almond exported quantity, Turkish hazelnut export price and the exchange rate (mark, yen and franc with respect to dollar). In the case of Spanish almond export price are: USA almond export price, Spanish almond exported quantity and the exchange rate (mark, franc and florin with respect to dollar).

The Spanish hazelnut export price is determined by the following factors (by order): Turkish hazelnut export price, Spanish hazelnut exported quantity and the exchange rate (mark and franc with respect to dollar). Finally, the Turkish hazelnut export price was determined by: USA almond export price, the exchange rate (mark, franc and florin with respect to dollar) and the Turkish hazelnut exported quantity. Spanish almond and hazelnut export prices are more elastic than USA almond and Turkish hazelnut export prices.

USA and Turkey exert, respectively, a clear leadership on world almond and hazelnut export markets. Equations have been able to quantify that relationship and to show the significant impact that microeconomics factors (prices and quantities) and macroeconomics variables (exchange rates) have on almond and hazelnut export prices.

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