Market Update: Hazelnuts, Pistachio, Apricots and Macadamia

Turkish Hazelnuts The 2025 Turkish hazelnut harvest is significantly delayed due to slow nut development and adverse spring frost and summer heat, with harvesting still underway well past the usual mid-August start. As a result, the expected crop size is sharply reduced to below 500,000 metric tons — potentially as low as 450,000 tons — raising supply concerns. Prices are already rising steeply in anticipation of the shortfall, with producers holding back stock and free market in-shell prices nearing 300 lira/kg (USD 7.27/kg), far above the unattractive TMO state board bids (at 200 TRY). While some buyers are moving early to secure supply, many remain uncovered, likely fuelling further price increases once demand returns in force. 1 USD = 41.27 Turkish lira

US Pistachio Crop (2025 Forecast) The US pistachio industry is anticipating a record harvest of 1.6 billion pounds (725,000 tons), thanks to favourable spring weather and a mild California summer. This positions US exporters strongly on the global stage, particularly as Turkey faces an OFF-year and Middle East tensions persist. However, tariffs in PRC and high carry-over stocks in other producing countries may limit export upside, especially in key markets like the EU.

Iran Pistachio Crop (2025 Forecast) Iran's pistachio production is projected to reach 240,000 metric tons, a 20% increase from the prior year, according to the local pistachio association. Despite an April heatwave impacting the Akbari variety, overall crop quality is high, with larger nut sizes and fewer closed shells. Nonetheless, Iran will face intense competition from the record-setting US crop.

Price Trends In August, pistachio prices declined overall, though they remain higher YoY for popular varieties like Ahmad Aghaei and round Fandoghi. In contrast, Kale Ghuchi and Akbari prices have fallen, reflecting varietal supply differences and market competition.

1 USD = 100,600 toman

Dried Apricots

The Turkish dried apricot market is currently very quiet, with clients largely inactive and most packing companies closed except for those handling small orders. Despite the lack of trading, prices for raw apricots remain firm, with jumbo varieties reaching about $11/kg and organic apricots fetching as high as $20/kg). Export volumes have dropped about 60%, with only 2,814 mt shipped by August 30 compared to 7,231 mt in the same period last year. Weekly exports are also down significantly, indicating a slow start to the season amid high temperatures and subdued market activity in Malatya.

Macadamia: smaller crops from both South Africa and Australia

South African macadamia producers are facing potential losses of over EUR 25 million annually due to the looming 30% US tariff, prompting a shift in focus toward China, which recently removed tariffs on African imports. Meanwhile, crop forecasts have been revised down in both South Africa (from 93,433 mt to 85,166 mt) and Australia (by nearly one-third), indicating global production declines. Quality issues such as pest damage and uneven ripening are further complicating exports, especially for varieties traditionally sold to the US. Kenya has tightened export regulations, banning the transit of foreign raw macadamias, in an effort to protect domestic processors and farmers.The EU macadamia market remains strong, with import values up 45.3% year-on-year, driven by higher prices even as volumes hold steady. South Africa notably grew its EU shipments by 19.4%, positioning itself as a key supplier alongside Australia, while Kenya’s exports to the EU dropped by almost 35%.

1 USD = 1.52 Australian Dollar (AUD)

Reach out to us with your comments and purchasing requirements. CCI APAC supplies macadamia, pistachios, and hazelnuts from Azerbaijan and Georgia, and dried apricots from Central Asia.

Singapore-based CCI APAC supplies tree nuts and dried fruits.