Hazelnuts: Ferrero buys large volumes

November 16, 2020 10:00 AM, Der AUDITOR
Play report as audio

ORDU. The gain in value of the Turkish Lira and Ferrero's buying activities have caused a stir in Turkey's hazelnut market.

Lira gains more than 10% in value

Although the Turkish lira gained 10.1% in value last week, buyers in Europe are less delighted as export prices now range higher. Natural hazelnut kernels, 11-13 mm, more or less immediately shot up to EUR 6.00/kg DDP Germany. Rumour has it that Turkey's central bank intends to raise the key interest rate by 3% over the next few days meaning that prices are expected to climb further.

Ferrero to continue to buy

Ferrero also added fuel to the market. Issue is that the market giant issued a bid price of

View related articles

Go to the News Overview
Dec 9, 2021
ATLANTA. Now that the US growing regions have recovered after the massive storm damage of 2018, a relatively small crop is nevertheless being reported from the most important growing state of Georgia. However, this was to be expected.
Dec 8, 2021
HANOI. Vietnam has by far the largest market share of German cashew imports. However, there is still room for improvement, also due to the simplifications resulting from the free trade agreement.
Dec 6, 2021
ORDU. Chaos continues in Turkey’s financial market. Not only did President Recep Tayyip Erdoğan appoint a new finance minister on Thursday but Fitch Ratings also revised the country’s outlook to negative. For traders it is simply impossible to determine which way the hazelnut market will turn. Much also depends on Ferrero, the TMO and demand.
Dec 1, 2021
MANILA. In addition to high commodity prices, export prices for desiccated coconuts have also increased. And since all bad things come in threes, there is no relief in sight for freight costs either.