Weekly Product Updates

W7 Hazelnut Update: Türkiye's Hazelnut Industry Struggles with Climate Change and Labor Storage Challenges, Raw Material Prices Remained Stable While Export Prices Decreased

Hazelnut Kernel
Raw Hazelnut
Turkiye
Market & Price Trends
Published Feb 22, 2024
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In W7 in the hazelnut landscape, raw hazelnut prices in Türkiye remained unchanged, with speculation suggesting potential activity from the market leader. However, the export prices declined due to the weak demand. In addition, Türkiye’s hazelnut industry faces challenges due to climate change and labor storage issues. The rising temperatures and changing weather patterns are affecting the crop yield, while labor shortage is leading to increased production costs.

Türkiye’s Raw Hazelnut Prices Remained Stable While Export Price Declined

Türkiye's raw hazelnut prices remained stable in W7 due to speculation that the market leader would be active. However, export prices dropped slightly as demand declined again. The exchange rate was stable, but the market eagerly awaits the results of the Monetary Policy Committee's meeting under the new head of the Turkish Central Bank on February 22, 2024. Potential risks regarding the new harvest dominate discussions. Export price lists continue to vary significantly based on the position of the exporters.

Climate Change and Labor Shortages Pose Challenges for Türkiye's Hazelnut Industry

Due to the unusually warm weather, hazelnut producers in Türkiye's Black Sea region are concerned about potential frost. The hazelnut buds may burst prematurely if the warm temperatures continue, which could make the fruit vulnerable to frost damage. The local agricultural authorities are closely monitoring the situation and are cautioning that late spring frosts could also pose a risk to other crops like kiwis, apples, and pears. Currently, there have been no reports of negative impacts on agriculture.

Furthermore, the industry faces a labor shortage as younger generations are not interested in agricultural work. The National Hazelnut Council (UFK) reports that hazelnut productivity has declined significantly due to aging hazelnut gardens and fragmentation caused by inheritance laws. Although steps are being taken to prevent losses, neglecting gardens that require renewal impedes the shift to more efficient production. The UFK recommends the government encourage young people to participate in agriculture, potentially creating 150 thousand job opportunities.

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