Hazelnut Market Update March 2022 Week 11

The hazelnut market is blooming. As per the International Nut and Dried Fruit Council, global crop production totals 1.76 million mt of in-shell hazelnuts. This will be an 8% increase from last year. Turkey has led this growth and continues to play the role of the most important production country. With production numbers reaching 790,000 mt, a 23% increase from last year, Turkey expects record exports. 

It is expected that Turkey will be able to ship more than 340,000 mt of hazelnut kernels in 2022. While prices are yet to be determined for the new crop, there is concern that sub-zero temperatures of the last few weeks may lead to crop damage. 

The USA is expected to achieve 64,500 mt crop production. This will be a 14% increase from the previous year. Oregon has proved to be quite successful in harvest quality and quality in 2021. It is expected to perform the same. US exports have also been strong in 2021 and will continue to remain in 2022. China and Canada are key export destinations for the US. With the demand to stay high, the future looks bright for the US hazelnut market.