Nuts

Hazelnuts: deceptive demand

December 1, 2022 at 12:35 PM, Der AUDITOR
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ORDU. Speculations are running wild as to why the raw material prices for hazelnuts have soared in Turkey and in how far the legal action against Ferrero is responsible for this. Traders also disagree as to how much the TMO has really purchased.

Too much of a coincidence

Domestic prices for hazelnuts started to rise relatively soon after Turkey’s Competition Board decided to launch a legal investigation against Ferrero at the start of November. While several media reports insinuate that this is too much of a coincidence, suppliers firmly state that other factors are at play. Trouble is that the sudden uptick in domestic demand for New Year caught the market unaware. Most buyers had expected prices to decline and jumped into action when they did the opposite. This caused he market to soar in mid-Novemb

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