Greece: Hazelnut Market 2024

Hazelnut Market Size in Greece

In 2021, the Greek hazelnut market decreased by -12.4% to $X for the first time since 2015, thus ending a five-year rising trend. Overall, consumption showed a noticeable reduction. Hazelnut consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Hazelnut Production in Greece

In value terms, hazelnut production dropped to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2020 with an increase of 39%. Hazelnut production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

The average yield of hazelnuts in Greece stood at X tons per ha in 2021, growing by 2.3% against the year before. Overall, the yield, however, continues to indicate a noticeable reduction. The growth pace was the most rapid in 2018 when the yield increased by 35% against the previous year. The hazelnut yield peaked at X tons per ha in 2013; however, from 2014 to 2021, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the harvested area of hazelnuts in Greece declined to X ha, reducing by -5.9% against the previous year. Overall, the harvested area, however, recorded a mild expansion. The pace of growth appeared the most rapid in 2017 when the harvested area increased by 30%. The hazelnut harvested area peaked at X ha in 2020, and then fell in the following year.

Hazelnut Exports

Exports from Greece

In 2021, hazelnut exports from Greece skyrocketed to X tons, picking up by 1,516% on the year before. In general, exports recorded significant growth. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, hazelnut exports skyrocketed to $X in 2021. Overall, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Morocco (X tons) was the main destination for hazelnut exports from Greece, accounting for a 91% share of total exports. Moreover, hazelnut exports to Morocco exceeded the volume sent to the second major destination, Albania (X tons), more than tenfold. The third position in this ranking was taken by Israel (X tons), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Morocco was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (-38.6% per year) and Israel (0.0% per year).

In value terms, Morocco ($X) emerged as the key foreign market for hazelnut exports from Greece, comprising 88% of total exports. The second position in the ranking was held by Israel ($X), with a 5.9% share of total exports. It was followed by Albania, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Morocco was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (0.0% per year) and Albania (-34.0% per year).

Export Prices by Country

In 2021, the average hazelnut export price amounted to $X per ton, surging by 41% against the previous year. Overall, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hazelnut export price increased by +83.1% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Cabo Verde ($X per ton), while the average price for exports to Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+200.4%), while the prices for the other major destinations experienced more modest paces of growth.

Hazelnut Imports

Imports into Greece

Hazelnut imports into Greece soared to X tons in 2021, rising by 73% on the previous year's figure. Over the period under review, imports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 141%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, hazelnut imports skyrocketed to $X in 2021. Overall, imports, however, faced a sharp curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 159%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X tons) was the main hazelnut supplier to Greece, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey stood at +18.2%.

In value terms, Turkey ($X) constituted the largest supplier of hazelnut to Greece.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +18.0%.

Import Prices by Country

The average hazelnut import price stood at $X per ton in 2021, reducing by -6.4% against the previous year. Overall, the import price recorded a pronounced setback. The growth pace was the most rapid in 2016 when the average import price increased by 7.7%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Turkey.

From 2012 to 2021, the rate of growth in terms of prices for Poland amounted to +20.0% per year.

Source: IndexBox Platform

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