Hazelnuts Price Trend and Forecast

Regional Price Overview

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).

Hazelnuts Price Trend for the Second Half of 2023

The hazelnut prices surged steeply in European countries, particularly of Turkish origin, due to supply concerns and blockage of supply routes from Turkey which is one of the leading hazelnut producers.

Hazelnuts Price Chart

Hazelnut Price Trends

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Initial estimates by the International Nut and Dried Fruit Council (INC) projected a 2% decrease in the 2023/24 Turkish hazelnut crop, but the Turkish Ministry of Agriculture and Forestry later estimated it even lower at 718,000 tonnes, concerning the traders of hazelnuts all around the world.

The Turkish producers reported challenges, including global warming, insect damage, and inadequate rainfall during critical nut development periods, which have impacted the harvest rates adversely. Some sources suggest the harvest could be as low as 620,000-650,000 tonnes.

Despite the Turkish Grain Board setting higher in-shell purchasing prices for hazelnuts, the market remains robust. However, the decision of the Turkish traders to halt hazelnut sales until December further intensified the supply concerns and raised the pricing patterns of hazelnuts around the globe. The rapid price escalation may, in the future, lead to reduced demand as companies seek alternatives or adjust purchasing strategies, possibly favoring spot purchases over forward contracts.

Analyst Insight

According to Procurement Resource, the price trend of Hazelnut is estimated to shoot upwards in the upcoming quarters as the demand for hazelnuts all around the world has been growing rapidly, but the production activities are yet to catch up with the robust procurement rates.

Hazelnuts Price Trend for the First Half of 2023

Hazelnuts continued their disappointing run well into the first half of the year 2023. With a further decline in the processing and transporting costs with the depreciation in crude oil and freight charges, Europe developed ways to deal with the ongoing war between Russia and Ukraine.

The supply chains were restored, and newer trade routes opened, but because of fewer purchases in the previous year, hazelnuts were in excess in inventories, and fresh yields further raised the supplies. So, with ample supplies and lesser demand, the prices plummeted and wavered at the lower end. Overall, bearish market sentiments were observed in H1’23.

Analyst Insight

According to Procurement Resource, with excessive supply and multiple players jumping in the Hazelnut market does not seem to pick up any time soon.

Hazelnuts Price Trend for the Second Half of 2022

Hazelnut prices mostly oscillated at the lower end of the price curve during the said period of H2’22. Turkey is the biggest player in the Hazelnut market as it accounts for around 56% of total global supplies out of which around 90% of supplies cater to Europe only. However, since the war began in the European continent between Russia and Ukraine in early 2022, the economic situation completely destabilized the region.

Inflation soared, which shot the utility and energy bills through the roof. To counter this situation, import bills were subsided and a fall of around 35% in hazelnut imports from Turkey was observed. This dip in demand led to a supply excess in the Turkish market, and the supplies had to be directed to other global markets at lower prices. Hence, the hazelnut prices depreciated throughout the said period.

Analyst Insight

According to Procurement Resource, Hazelnut price trends are likely to depreciate further since the demands do not seem to be picking up anytime soon, given the current dynamics.

For the Second Quarter of 2022


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.

North America

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.

For the First Quarter of 2022


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.

For the Fourth Quarter of 2021

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.

For First, Second and Third Quarters of 2021


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.

For the Year 2020


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.

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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.

Product Details

Report Features Details
Product Name Hazelnuts
Industrial Uses Food, Confectionery, Bakery, Medicine
HS Code 8022200
Synonyms Cobnut, Filbert nut
Supplier Database Olam International, Aydin Kuruyemis Sanayii ve Ticaret A.S., Oregon Hazelnuts, Kanegrade Ltd., GEONUTS, Balsu Gida, Chelmer Foods Limited
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer 
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

  • Harvesting of Hazelnuts

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.


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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