W9 Hazelnut Update: Strong Demand in Türkiye Despite High Prices, Georgia’s Hazlnut’s Opportunity in the European Market

Published 2024년 3월 9일

In W9 in the hazelnut landscape, despite high prices, hazelnut demand in Türkiye remains strong due to the upcoming Ramadan, with active buyers from Europe and positive business with Gulfood in Dubai supporting the price. There is additional demand from the Middle East due to previous delayed deliveries, and buyers continue increasing stocks. In addition, Türkiye exported USD 131.2 millions of hazelnut kernels in Jan-24, ranking second after flour (USD 137 million). Lastly, Georgian hazelnut exports to the European market are set to streamline following positive audit results for state-controlled procedures assessing aflatoxin levels.

Hazelnut Demand in Türkiye Remains Strong Ahead of Ramadan

Despite the high prices, hazelnut demand in Türkiye remains strong due to the upcoming Ramadan. Active buyers from Europe and positive business with Gulfood in Dubai supported the price. The Middle East has additional demand due to the previous delayed deliveries, and buyers continue increasing stocks. The current price is around USD 3.96 per kilogram (125 TRY/kg) and is expected to fall as soon as the Turkish Grain Board (TMO) releases a selling price and a corresponding quantity. However, this will not happen before Apr-24.

Türkiye Hazelnut Kernel Exports Reached USD 131.2 Million in Jan-24

Türkiye's hazelnut kernel exports in Jan-24 reached USD 131.2 million, ranking second after flour (USD 137 million). Along with tangerines, with an export value of(USD 91.7 million, these products comprised 14% of Turkey's total exports.

Georgia's Hazelnut Exports to European Market Set to Streamline Following Positive Audit Results

The National Food Agency of Georgia provided information about state-controlled procedures to the European Commission's Directorate General for Health and Food Safety (DG SANTE) late last year to assess hazelnuts' aflatoxin levels. The audit result is positive, and an action plan has been approved based on the audit's recommendations. This approval will streamline the export of Georgian hazelnuts to the European market, eliminating additional procedures and delays.