W25: Hazelnut Update

In W25 in the hazelnut landscape, it was reported that Turkey has a substantial amount of unsold hazelnuts stocked, prompting the Turkish Grain Board (TMO) to start selling hazelnuts to regulate prices. The decision to sell the stocks will prevent negative pressure on prices in the next season. However, Turkish exporters are not pleased with the prices set by TMO, ranging from USD 2.50/kg (TRY 65/kg) to USD TRY 68/kg (USD 2.61/kg), which translates to USD 5.52-5.78/kg in kernels assuming a 50% yield, causing concern among exporters as they expected lower prices. The Turkish hazelnut market is inactive due to the fall of the Lira and high nut prices. In addition, a member of the Board of Directors of the Union of Chambers of Agriculture of Turkey (TZOB) has reported local damages in hazelnut crops in Ordu due to flooding and landslides. During the examinations at the Fatsa Chamber of Agriculture Farmer Training and Production Center, which was affected by heavy rain. Efforts are being made to restore the affected center in Fatsa as soon as possible. In April 2023, Azerbaijan reclaimed its second-place position as a supplier of peeled hazelnuts to Germany. The Federal Statistical Office of Germany reported that Azerbaijan ranked fourth in January, second in February, and third in March. Germany imported 3.94 thousand tons of shelled hazelnuts in April, with Azerbaijan supplying 308 tons. Compared to April 2022, hazelnut imports from Azerbaijan to Germany increased by 1.8 times in quantity and 1.6 times in value. The top three suppliers in April were Turkey, Azerbaijan, and Georgia.

On the other hand, hazelnut kernel prices in the Chinese market are USD 9.32/kg (RMB 67/kg) for retailers in W24. The price is negotiable based on the order quantity and payment terms. The demand is low due to the hot weather this season. The end buyers predict a potential price decrease in the coming months based on the current situation in the market. Lastly, hazelnut cultivation in Terra Alta, Spain, particularly in Fatarella, has faced significant challenges, resulting in a decline of more than half of its hazelnut production in recent decades. The lack of support from the Spanish administration has been a cause of concern for the Sant Isidre cooperative.