Overview
Türkiye accounts for about 70% of world hazelnut production, and the Black Sea region harvest, concentrated in the provinces of Ordu, Giresun and Trabzon, is the single most important price determinant in the global hazelnut market.
2025 Crop Forecast
The Hazelnut Promotion Group (FİSKOBİRLİK) announced its preliminary 2025 in-shell hazelnut estimate at 640,000–680,000 MT. This represents a decline of 8–11% against the 2024 outturn of 720,000 MT, attributed to the typical six-year cyclical yield pattern in hazelnut orchards and low spring temperatures in March 2025.
Current Prices
- Natural hazelnuts (13 mm+)
- USD 6,200–6,600/MT CIF Europe
- Blanched whole (11–12 mm)
- USD 7,800–8,200/MT CIF Europe
- Blanched roasted
- USD 8,500–9,200/MT CIF Europe
These price levels are 25–30% above the three-year average and take Turkish hazelnuts to historic highs not seen since 2014.
Downstream Impact
The first-half 2025 requirements of the principal buyers, European confectionery and chocolate manufacturers, have largely been covered. Second-half cover remains limited, creating strong buying interest as the summer season approaches. Ferrero, Barry Callebaut and Nestlé have signaled their intention to buy early-crop October 2025 positions at current or slightly higher prices.
Recommendation
Early commitment purchases are strategically advisable for buyers with second-half 2025 and 2026 requirements. My Trade Global can arrange early-crop forward contracts for October–December 2025 delivery.