Turkish Hazelnuts, Market Update May 2023

Date: 12th May 2023 Category: Latest News
Turkish Hazelnuts, Market Update May 2023

Turkish hazelnut export volume reached 220,880 MT by the end of April. Despite a large crop volume in the 2022 season, the export volume in the Turkish market decreased by 20% compared to the previous season (268,400 MT). Due to high prices at the start of the season, buyers were reluctant to contract big volumes, and eventually, most tried different origin diversions.


Due to foreign currency value increases against the Turkish lira and cash flow issues of Turkish factories, prices started coming down to lower levels in recent weeks.

The TMO is still holding around 200,000 MT of raw material in their warehouses, and suppliers are expecting that the TMO will soon start to offer it to the private market.

Mostly, the market is watching the general elections in mid-May and their economic aspects. At the same time, liquidity issues continue to stress the export price offers. There is no availability of raw material, as there will be a certain carry-over at the end of this season as well.

New crop development looks good so far. Trees are at early stage right mow as it's no as it's far too early for crop volume expectations. However most of the frost risk is already over by now. in cases of Turkey will supply another big crop in 2023 season such like 800-850k MT in-shell basis, we may see that availability would hit record volumes as 1 millions tons, that there would be serious surplus in the new season. in that case, prices may drop dramatically that is not also very positive aspect for any parties. thus, Turkish government may involve again in the new season and announce optimistic buying price for the growers.