Mixed signals in the hazelnut markets in Turkey and Georgia

Hazelnut Kernel

Turkiye

Georgia

Published Mar 30, 2022

Tridge summary

EastFruit analysts note that hazelnut prices in Georgia remain low. According to the wholesale price monitoring conducted on March 25, 2022, hazelnut kernels were sold at an average of $3.70 (12 lari) per kilogram. Wholesale prices have been declining for 6 weeks and during this period they remain at the lowest levels observed by EastFruit. The price has decreased by 40% compared to last year.

Original content

Georgian market participants tell EastFruit that local exporters remain somewhat passive as they have stocks. Meanwhile, positive signals are coming from the Turkish market. According to Mundus Agri, the demand for Turkish hazelnuts in Europe has increased. This is not yet felt in Georgia, but we hope that interest in Georgian hazelnuts will also increase. Unlike Georgia, there are positive shifts in prices in Turkey. Source: Mundus Agri As you can see from the chart, prices are rising after falling, but so far, Turkish prices are also lagging behind 2021 and 2020 levels. Inflation remains a key issue in Turkey. As the purchasing power of local consumers has declined, domestic demand for hazelnuts has also declined. In addition to the currency crisis and cautious external demand in previous months, the decline in purchasing power has also dealt a significant blow to the hazelnut sector. Turkish traders report that prices will not be able to return to the levels of previous years. ...

Source: Eastfruit