Turkey: There is a decline in hazelnut exports to Europe

Published Nov 7, 2022

Tridge summary

The article highlights a decrease in both the quantity and value of Turkey's hazelnut exports in the first 10 months of 2022, largely due to the energy crisis and recession in European markets. The total export weight was 239,934 tons, leading to a foreign currency inflow of $1,325,828,076, marking a 6% decrease in quantity and 23% decrease in value compared to the same period in the previous year. Mehmet CİRAV, Chairman of the Eastern Black Sea Exporters' Association, attributes the decline to reduced purchases and production capacity of manufacturers due to increased costs. He anticipates a slight revival of markets in the first half of 2023, provided that energy supply issues are resolved and inflation is controlled. The report also focuses on the challenges faced by the sector, including reduced demand and competition from other countries, and emphasizes the need for support, such as access to Eximbank loans and subsidies, to mitigate these challenges.

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

Original content

In annual exports, 239,934 tons of hazelnuts were exported in the 10-month period covering January-October, and 1 Billion 325 Million 828 Thousand 762 dollars foreign currency inflow was provided in return. In our hazelnut exports made on an annual basis, there is a 6% decrease in quantity and 23% in value compared to the first 10 months of the previous year. Mehmet CİRAV, Chairman of the Eastern Black Sea Exporters' Association (DKİB) Hazelnut and Hazelnut Products Sector Committee, made evaluations on the subject; Due to the energy crisis and recession, especially in European countries, the manufacturers that use hazelnut as raw material, as in all products, stop their purchases, do not stock up, and some of them do not take their orders, as the manufacturing companies cut their production, decrease their capacities, and some companies stop their production completely due to cost increases. He stated that this situation is also reflected in our hazelnut exports, depending on the ...

Source: Findiktv