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Hazelnuts: Ferrero's bid prices generate mixed response

August 24, 2020 11:18 AM, Der AUDITOR
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ORDU/TBILISI. Market leader Ferrero has finally issued bid prices for hazelnuts. While farmers are satisfied, crackers feel taken aback by Ferrero's prices. Exporters in Georgia are also confronted with challenges.

Ferrero undercuts TMO

At TRY 21.25/kg for Levantine and TRY 21.50/kg for Giresund hazelnuts, coupled with a surcharge of TRY 0.25/kg for good quality, Ferrero's bid prices range nearly TRY 1.00/kg lower than prices issued by the TMO. Contrary to expectations, however, the prices are still high enough for farmers willing to sell to Ferrero. Supplies should suffice on the free market. At the same time, however, the bid price for processed natural hazelnut kernels of TRY 43.50/kg is too low for the crackers to cover their costs. Initial reports indicate that the qualit

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