Between September 1, 2024, and May 31, 2025, Turkey exported an estimated 260,800 tons of hazelnuts, marking a 9% year-on-year increase, according to the Black Sea Exporters' Association. Although the export growth rate slowed in the quarter ending May 31, market dynamics remained robust.
Current market conditions show a preference for short-term transactions due to elevated prices. A European trader noted, "Most buying is done on short-term contracts; buying on forward contracts is rare." Another trader observed, "People want to see a bit more trading activity before pushing into the next level. Buyers are now looking to lock in some volumes."
In January, the Turkish Grain Board (TMO) made available 20,000 tons from the 2024/25 stock at TRY 145/kg. This included remaining inventory from prior campaigns. By mid-June, nearly all of the 2022/23 stock was reportedly sold, leaving about 10,000 tons from the 2024/25 crop. Trade sources indicate the market is responding to these releases.
Source: Mintec/Expana
