Hazelnut Market: Total Supply Comparison and Trends for 2022/2023 vs 2023/2024 Crop Seasons
Welcome to our comprehensive website report on the total supply comparison of hazelnuts between the 2022/2023 and 2023/2024 crop seasons. Hazelnuts, known for their unique flavor and versatile use in various culinary creations, are an important commodity in the global nut industry. As the demand for hazelnuts continues to rise, understanding the trends and changes in total supply becomes crucial for stakeholders and enthusiasts alike.
Hazelnut production is influenced by various factors, including weather conditions, agricultural practices, and global market demand. By examining the changes in total supply between crop seasons, we can gain a deeper understanding of the trends and factors shaping the hazelnut industry.
Our report features a detailed table that presents the total supply comparison for each country, highlighting the metric tonnage and percentage difference. This information can help industry professionals, traders, and consumers stay informed about the evolving hazelnut market and make strategic decisions.
| Country | Total Supply 2022/2023 (MT) | Total Supply 2023/2024 (MT) | % Difference |
|---|---|---|---|
| TÜRKIYE | 467,800 | 512,500 | +9.6% |
| ITALY | 43,350 | 53,850 | +24.2% |
| USA | 37,180 | 36,100 | -2.9% |
| CHILE | 23,435 | 27,950 | +19.2% |
| AZERBAIJAN | 25,140 | 27,280 | +8.5% |
| GEORGIA | 16,700 | 19,000 | +13.8% |
| CHINA | 13,450 | 12,600 | -6.3% |
| SPAIN | 3,750 | 12,750 | +240.0% |
| IRAN | 5,625 | 7,870 | +39.8% |
| FRANCE | 2,480 | 4,000 | +61.3% |
| OTHERS | 12,600 | 12,600 | 0.0% |
Additionally, we explore the challenges and opportunities in the hazelnut market, with a specific focus on the situation in Turkey. The depreciation of the Turkish lira against major currencies has created a surge in demand for hazelnuts, presenting both opportunities and uncertainties for exporters. Suppliers are facing difficulties in providing price quotations due to limited availability and fluctuating costs of raw nuts and currency exchange rates.
To address these challenges, we discuss the potential intervention of State Economic Enterprises (TMO) in stabilizing the market by strategically selling hazelnut reserves and creating room for the new crop. This could help stabilize prices and facilitate competitive export opportunities.
Despite the challenges, there are positive signs in hazelnut exports. We provide an overview of the latest export figures, showcasing the improvements in hazelnut exports from Turkey. Although there is still a slight lag compared to the previous year's figures, the gap is gradually closing, with exports now only 16% and 15% behind the previous year's levels.
The hazelnut market is dynamic and ever-evolving, and staying informed about pricing trends, supply dynamics, and export figures is crucial for industry players. By closely monitoring these factors, stakeholders can capitalize on emerging opportunities and navigate the hazelnut market successfully.
In conclusion, the total supply comparison between the 2022/2023 and 2023/2024 crop seasons highlights the dynamic nature of the hazelnut market. Factors such as currency fluctuations and limited availability pose challenges for suppliers, while opportunities for stabilization and export growth exist through strategic intervention. By monitoring market trends and adapting to changing conditions, industry players can navigate the hazelnut market successfully. Stay informed and seize the potential of this versatile nut commodity.
