- Global hazelnut markets remained firm during Q1’26 due to reduced Turkish harvest expectations, lower export availability, and weather-related supply disruptions across major producing regions.
- Supply-side pressure intensified because of frost damage, weaker orchard yields, and elevated freight costs linked to Middle East shipping disruptions.
- Downstream demand from confectionery, bakery, chocolate spreads, and premium snack applications remained stable, although buyers maintained cautious procurement amid tighter availability.
During Q1’26, the hazelnut market remained under strong supply pressure across Asia, Europe, and North America as Turkey continued dominating global exports despite lower shipment volumes. Turkish hazelnut exports declined by 31% year-on-year to nearly 71,315 tons during the first four months of 2026, while export revenues approached $991 million due to tightening supply conditions. The 2025 harvest was estimated at around 400,000–450,000 tons, significantly below normal production levels, while seasonal exports were projected at around 210,000–220,000 tons. In Asia, higher freight and insurance costs linked to Strait of Hormuz disruptions increased landed import costs for food processors and confectionery manufacturers. Europe witnessed firm market conditions because of supply shortages and stable demand from the chocolate and bakery industries, although buyers remained cautious amid elevated procurement costs. In North America, procurement activity from the confectionery and snack sectors stayed steady, supported by continued consumption but constrained by reduced Turkish export availability.