The Turkish hazelnut industry is facing a challenging season with rising prices, limited supplies, and reduced export activity. Early expectations for stable pricing have not materialized, as producers and traders hold onto stocks, tightening availability.
The Turkish Grain Board (TMO) announced its purchasing programme earlier than usual in August, setting prices at TRY200/kg (US$4.83/kg) for Giresun quality hazelnuts and TRY195/kg (US$4.71/kg) for Levant quality nuts. While these represent increases in Turkish lira terms compared to past seasons, producers argue the levels remain insufficient to cover inflation and rising production costs.
In the 2024/25 season, TMO paid TRY132/kg for Giresun hazelnuts, compared with TRY84/kg in 2023/24 and TRY53/kg in 2022/23. Prices in Turkey continue to be shaped by high inflation and tightening supply.
Following the announcement, local market prices increased to TRY320–350/kg (US$7.73–8.46/kg) by mid-September, according to industry sources. Exporters report difficulties in meeting orders due to raw material shortages, limiting shipments in the opening weeks of the season.
Production losses from spring frosts and summer drought have pushed output to one of the lowest levels in recent years. The International Nut and Dried Fruit Council (INC) in May forecast 609,000 metric tons, down 22% year on year. More recent estimates from Turkey suggest 520,000 mt, with some traders indicating production could be closer to 400,000 mt. "Production could be as low as 400,000 mt; there are going to be plenty of empty nuts this year," a European trader said.
Exporters are contending with record prices and uncertainty in the market. Buyers are reluctant to commit to contracts at current cost levels, while many exporters hesitate to take on new deals given the risk of losses and the challenge of securing raw material for existing agreements. "The price is only theoretical; there are no sellers and no buyers in the market. Many sellers do not want to deliver on contracts signed earlier at lower prices," a trader commented.
The Expana Benchmark Prices for Turkish 11/13 Levant quality hazelnut kernels reached US$1,700/100kg on September 18, a 41% increase in four weeks and up 121% compared to the same period last year.
Source: Mintec/Expana