Hazelnuts: Ferrero sets the ceiling

October 26, 2023 at 11:32 AM , Der AUDITOR
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ORDU. Ferrero has issued a new bid for hazelnuts. Some stakeholders are far from pleased.

Market giant comes to the rescue

Ferrero’s offer issued on Wednesday comes as a shock to speculators, who had anticipated further price rises. Trouble is that some suppliers paid TRY 100.00/kg or more for in-shell hazelnuts in the hope that the market giant would drive up prices to TRY 110.00/kg over supply squeeze concerns. Ferrero instead issued a bid over TRY 95.00/kg for high-quality in-shell Levant hazelnuts. While manipulations persist with false claims stating that this is Ferrero’s absolute minimum bid, this is the first bit of good news exporter

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