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Hazelnuts: Ferrero drives sudden change in price

December 14, 2020 12:18 PM, Der AUDITOR
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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

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