Nuts

Hazelnuts: Ferrero drives sudden change in price

December 14, 2020 at 12:18 PM , Der AUDITOR
Play report as audio

ORDU. In conducting short-term purchases Ferrero has tested the market’s max pain price. Although trading is largely subdued in the run up to Christmas, hazelnut suppliers will need to reconsider their options.

Sales well short of expectations

Ferrero has recently purchased c. 16,000-17,000 mt for prompt delivery at short notice. Problem, however, is that the market giant immediately withdrew from the market again. This prompted a temporary decline in raw nut prices from TRY 47.35/kg to TRY 45.00/kg. Prices, however, quickly bounced back to TRY 46.00/kg, which shows where the max pain price currently ranges.

Although export prices have nominally declined, buyers in Europe prefer to wait. These declines are mainly sparked by exchange rate fluctuations as European Ce

View related articles

Go to the News Overview
Nuts
Mar 27, 2024
BRUSSELS/QINGDAO. Prices have taken a rather odd turn for walnuts in China. The country has also gained market shares in Europe this season.
Nuts
Mar 25, 2024
NEW DELHI. With Holi, the Hindu Festival of Colours, Love and Spring, being celebrated on 25 March peanuts should have taken a sharp downturn. Yet, China caused things to play out differently. Suppliers are waiting to ship the new crop in Tanzania and sales are already underway in the USA and Brazil.
Nuts
Mar 21, 2024
CANBERRA/SACRAMENTO. While the almond blossom in California has come to a positive conclusion, growers in Australia are already worried about whether the blossom period in August will be severely affected by the current restrictions. In addition, Australian almond shipments have been declining in recent months.
Nuts
Mar 21, 2024
FRESNO/TEHRAN. Domestic demand for pistachios is still rather disappointing in the US. Yet, exports experienced another record month in February. Sentiments are highly upbeat about this year’s crop in Iran.