About: Hazelnut is basically known as the nut of the hazel, which includes any of the nuts extracted from species of the genus Corylus, especially the nuts of the species Corylus avellana. It is better known as cobnut or filbert nut, according to species. Hazelnut oil, pressed from hazelnuts, is strongly flavoured and utilised as a cooking oil.
Get the latest insights on price movement and trend analysis of Hazelnut in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
The price of Chinese Hazelnuts averaged around 3.11-7.58 USD/kg or 3107.14 USD/MT in Shanghai and Beijing for the said quarter. In Aisa, the Chinese market is considered to be having the lead in terms of growth as a result of high consumption of hazelnut kernels in the food industry.
The prices of Georgian Hazelnuts have fallen around 1.4-1.7 USD/kg during the said quarter, and no relief is expected soon. The decrease in the overall regional demand across Europe led to the stock piling of hazelnuts by the Georgian producers causing the prices to fall.
The rising feed prices coupled with the strengthening of the Georgian Lari against the US Dollar and Turkish Lira are some of the reasons behind this decrease.
Hazelnuts prices averaged 4.04-3.59/kg or 4042.51 USD/MT in New York and Washington during the said quarter.
Middle East & Africa
The Turkish Ministry of Agriculture and Forestry released their hazelnut production projection for 2022–2023 and estimated that the harvest will be 765,287 tonnes, up 13% from the previous year (y-o-y).
In the third week of March, subzero conditions were seen in high-altitude locations around Ordu, Turkey’s top hazelnut producing province, with temperature as low as -8°C. Following the occurrence of the frost, Turkish authorities warned that there would probably be serious losses in production in these regions. The total impact of the March frost, however, was negligible, according to the crop output projection made public in July.
Recently, Turkish hazelnuts prices have been stable. On July 21, the benchmark remained at 560 USD/100 kg, both week over week and month over month. Due the weakening of Turkish Lira, the prices fell by 10% y-o-y.
Turkey successfully exported 165,069 MT of hazelnut as of 9th January 2022. This was a huge increase over previous year's export numbers of 110,023 MT. However, the export numbers for this time of year in the 2019/2020 season were 173,434 MT. Hazelnuts with 11-13mm kernels were priced at 6180 USD/MT (5,450 EUR/MT) for European shipping.
Middle East Asia
By the end of the year 2021, the Turkish lira had fallen strongly against the Euro and USD. The volatile and highly unpredictable performance of lira brought uncertainties among the Turkish hazelnut key players making it difficult to strike balance between the prices and the supplies. In November the Turkish lira lost 30% of its value causing a raging inflation in the country. As lira drops the export prices for the commodity also dipped even though the labour and feed prices increased putting farmers in a tough position. Fortunately, the exports were strong in November at 115,000 MT of overseas shipments with the revival in demand. The natural Turkish hazelnut prices in November were assessed at 5.15 EUR/kg.
In China, the hazelnut market is rapidly increasing. Import volume from Turkey in September 2021 was 9875 MT.
In Italy, the crops were damaged due to the frosty weather conditions in the areas of Viterbo (Central Italy), Piedmont (Northern Italy), and places in Southern Italy. Major producing zones were hit by low freezing temperatures in the first few weeks of April which discouraged the blooming of flowers in many places across Europe. Germany, Italy and France are major importing countries for Turkish hazelnuts.
Middle East Asia
Turkish hazelnut Mintec Benchmark Prices for the Levant quality delivered on a CFR basis Rotterdam were steady at 6500 USD/MT in May 2021, down by 750 USD/MT (-10%) from February 2021 level and falling by 4% year-on-year (y-o-y). Hazelnut prices came down as the value of lira fell against the USD from 7.21 to the dollar in March to 8.27 in May. The market was dull in May as the Turkish government imposed lockdowns in April to control the spread of coronavirus. In September, hazelnut prices for the Levant quality delivered to Northwest Europe on a CFR basis were 6450 USD/MT, down by 8.5% compared to the prices during the same period in last year. The crop along the Black Sea coast had been affected by heavy rains which affected the drying of nuts.
The hazelnut imports in China have improved gradually over the past few years. In 2020, however, the import value declined to just USD 16.99 million in the first half of the year. The import prices for the commodity had also gone down in the region.
Middle East Asia
In August 2020, the hazelnut prices for Giresun quality were increased to 22.5 TRY/kg by the TMO (Turkish Grain Board) while the Levant quality prices increased to 22 TRY/kg. The price rise came after farmers and opposition party leaders called for a higher price increase to at least 25 TRY/kg as the country witnessed soaring inflation which elevated the production costs. The Turkish production for hazelnuts also declined as compared to the outputs of the previous year although the harvest was in full swing. In September 2020, exports declined by 46% compared to the same period of the previous year at around 691 million dollars’ worth of export. Another factor which affected the overall yield and production was the hot weather in the region, which also contributed to the eventual rise in prices.
Procurement Resource provides latest prices of Hazelnuts. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Procurement Resource provides prices of Hazelnuts for several regions around the globe, which are as follows:
Several factors are to be kept in mind while harvesting hazelnuts. Its harvesting is carried out either by hand or, by mechanical raking of fallen nuts. Four major pieces of equipment are used in its commercial harvesting, which are, the sweeper, the harvester, the nut cart, and the forklift.
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The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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