Nuts

Hazelnuts: Ferrero still to issue bid

August 16, 2021 12:46 PM, Der AUDITOR
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ORDU. President Erdoğan has finally announced the TMO bid for hazelnuts over TRY 26.5/kg for Levantine quality and over TRY 27.0/kg for Giresun quality. As these prices are largely in line with expectations there has been no big shift in the market so far. Much now depends on the bid Ferrero is expected to issue very soon. Buyers in Europe are urged to be on the alert, while harvesting has started in coastal areas.

Waiting for more details

Market players were highly relieved that the rumoured prices of TRY 28/kg did not emerge. Details on when exactly the TMO intends to start buying and which volumes are still, however, to be issued. Much now depends on Ferrero. If the company issues a bid that is too low, farmers will be prompted to sell to the TMO, which will be bad for prices, especially if next year’s crop is small. Raw (inshell) hazelnuts kernels are already trading at TRY 48/kg. Traders would prefer Ferrero to issue a bid, which is similar to the TMO. Free prices w

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