Hazelnuts: farmers shun Ferrero

September 8, 2022 at 12:17 PM, Der AUDITOR
Play report as audio

ORDU. Ferrero has finally issued a bid. Prolonged rainfall has not only delayed the harvest but is also giving rise to concerns over quality. Autumn and winter will prove tough for Turkey’s hazelnut exporters.

Stolen income

Exporters, in fact, feel betrayed by their own government. Issue is that officials literally forced businesses to pay foreign currency earnings into “Exchange Rate Protected TRY Term Deposit Account” with state inspectors even visiting companies refusing to do so. Although initially promising bank loans with low interest rates for the equivalent amount of the money placed in the deposit accounts, the government recently pulled the plug on this leaving exporters to effectively lose their income. Not only do companies feel betrayed but it is

View related articles

Go to the News Overview
Feb 2, 2023
ORDU. Suppliers in Turkey are utterly shocked and surprised by the TMO’s decision to sell hazelnuts. Initial assumption was that the state-run organisation would try to hold on to its stocks to prevent prices from tumbling before the general election in June.
Feb 1, 2023
HANOI. Farmers presently have little incentive to harvest cashews in Vietnam. Many have, in fact, stopped harvesting as local media report. Trouble is that raw material prices are simply too low. There is no chance of improvement as prospects are bleak for exports.
Jan 31, 2023
MANILA. As the experts of T.M. Duché report, prices for coconut oil were able to crack the USD 4,000/mt mark at the beginning of the year. How the situation develops further in the course of the year depends largely on the other edible oil markets.
Jan 30, 2023
NEW DELHI. The shortage of sesame oil is making many buyers in India and overseas switch to peanut oil as a popular alternative. The higher demand is also causing prices to rise. There is good news regarding import duties.