W23: Hazelnut Update

In W23 in the hazelnut landscape, it was reported that the hazelnut market is projected to experience a strong compound annual growth rate (CAGR) of 9.9% due to the increasing demand driven by health-conscious consumers. By 2032, the market is estimated to reach a value of US$ 40.6 billion. This growth is attributed to the rising preference for healthy and natural food options, with hazelnuts being valued for their nutritional benefits. In China, the price of hazelnuts remained stable at $9.66/kg (RMB 69/kg) during W24, including the delivery fee. The demand for hazelnuts has remained consistent, but buyers have room to negotiate prices for purchases over 1 ton. In the short term, it is expected that the price will continue to remain steady. However, it is important to note that the depreciation of the RMB to USD exchange rate has led to increased import costs. Also, Georgia's Association of Almond and Walnut Growers has identified Germany, Turkey, Azerbaijan, and the Gulf region as potential export markets for Georgian hazelnuts. Georgia has established trade links for hazelnut exports to Turkey and Germany, and the UAE has seen an increase in walnut imports. Lastly, Ferrero Precious Agriculture Turkey has established model orchards in Samsun, benefiting hazelnut orchards and producers. They provide consultancy and training on proper agricultural techniques, promoting sustainability. The model gardens serve as examples, showing tangible benefits and improved yield.