Why is the global trade in hazelnuts falling?

Published 2021년 3월 18일

Tridge summary

Global hazelnut trade is experiencing a decline with a 8% drop and a 25% decrease in the average world price for a hazelnut kernel. This is largely due to a 19% decrease in exports from the world's leading producer, Turkey, caused by unfavorable weather conditions and pest issues. The European Union, which accounts for 80% of global purchases, continues to be the main consumer. However, international companies are diversifying their sources, leading to increased production in countries like Georgia, Azerbaijan, and Chile, which are now competing with traditional producers like Turkey and Italy. The article also discusses efforts to improve yield and quality through new plantations and technology, despite the challenges in the market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to EastFruit analysts, global trade in hazelnuts is falling by 8%, or an average of $ 144 million per year. In addition, there is a decrease in the average world price for a hazelnut kernel by 25% - from $ 8.708 / t on average for 2013-2015 on a FOB basis to $ 6.574 / t on an average for 2017-2019, also on a FOB basis. At the same time, revenue from the export of hazelnuts decreased by 12% in 2017-2019 compared to 2013-2015. What is the reason for this situation in the world market and what this can mean for producers in our region, analysts of the Georgian office of EastFruit tried to figure it out. Indeed, for Georgia, hazelnuts remain the main source of export earnings in the agricultural sector, after, of course, Georgian wine. Graph 1: Average annual changes in world trade volumes for almonds, hazelnuts, walnuts and pistachios over 5 years Data source: trademap Production and trade in hazelnuts is highly concentrated. The largest producer and exporter of hazelnuts ...

Source: Eastfruit