Turkish Hazelnut – Market Update

This year to the end of January saw 190,428 tons of Hazelnuts exported from Turkey. This figure is up by 40% from the same time last year of 132,772 tons. By December 2021, buyers were very active with good prices being offered forward. Most goods had already been contracted by the time the Turkish Lira hit the lowest price against other Currencies. At present, demand is low due to pricing of materials and shipping costs becoming ever more expensive. Total shipments are expected to reach 350,000 tons by the end of the season.

New crop development has been good so far, with first flower counts expected to start in mid-February. This will give us a good insight to crop expectations. Harsh weather in Turkey has been drastically affecting a lot of the population, and also affecting many crops in the country. This hasn’t been so much of the case for Hazelnuts, as regions where crop are grown haven’t seen conditions as bad as others.