W5 Hazelnut Update: Stable Market Forecast Until 2025, Azerbaijan's Hazelnut Exports Declined in the EU, While Turkey and Moldova Explore New Markets

Global Hazelnut Market is Projected to Remain Stable Until 2050

The global hazelnut market will remain steady for the next 10 to 15 years, and this period may extend up to 2050, given the growth of the world's population. This stability will result in consistent hazelnut production and prices. They are sold at a constant worldwide price range of USD 2 to USD 3.5 per kilogram (kg), with minimal fluctuations compared to other products.

EU Countries Decrease Imports of Azerbaijani Hazelnuts by 18.9%

According to the statistical office of the European Union (EU), EU countries imported approximately 7.6 thousand metric tons (mt) of peeled hazelnuts from Azerbaijan from Jan-23 to Nov-23, resulting in a decline of 18.9% year-on-year (YoY). The total import value was USD 45.14 million, a drop of 23.2% YoY. Exports to Italy decreased by 2.9 times YoY in volume to 2.4 thousand mt and declined three times in value YoY to USD 14.26 million. In contrast, exports to Germany increased by 1.9 times YoY in volume to 3.9 thousand mt and rose by 1.8 times YoY in value to USD 23.65 million. Other countries, including the Czech Republic, Estonia, Spain, France, Lithuania, Latvia, Poland, Slovakia, and Belgium, purchased small volumes.

Türkiye Aims to Boost Hazelnut Exports to North and South America

The President of the Giresun Trade Board announced that Türkiye is planning to launch promotional activities in North and South America to expand their hazelnut export markets. As part of this effort, they will participate in a food fair in Canada on May-24 to promote Turkish hazelnuts and identify potential new markets. In 2023, Türkiye exported 3.24 thousand mt of hazelnuts to the United States (US), worth USD 24.56 million, 5.95 thousand mt worth USD 39.33 million to Brazil, and 3.19 thousand mt worth USD 19.70 million to Canada.