Nuts

Hazelnuts: China axes demand

April 28, 2022 12:06 PM, Der AUDITOR
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ORDU. With May around the corner attention is shifting towards the new hazelnut crop in Turkey. Although things are quite encouraging at present, China’s zero-Covid strategy is giving suppliers headaches. Ferrero’s response to the TMO’s attempt of lifting prices will also shape the market in the weeks to come.

TMO’s dilemma

Next year’s general elections have placed the state-run organisation in a difficult position. Although traders and exports have shunned the recent TMO offer for raw hazelnuts as the price of TRY 41.50/kg is simply too high, things may turn crazy in the next few months. Issue are speculations over the price the TMO may set for the new crop. As approval is declining for president Recep Tayyip Erdoğan’s ruling AKP party the organisation may very well try to appease farmers by offering high prices. Rumour has it that prices may even be r

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