Nuts

Hazelnuts: Ferrero changes tactics

December 20, 2023 at 12:43 PM , Der AUDITOR
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ORDU. Undeterred by crop failures Ferrero held on to its purchasing bid for hazelnuts, which helped to stabilise the market. Last week, the market giant, however, changed strategy.

New bid with a catch

In refusing to lift the purchasing price of TRY 95/kg for in-shell hazelnuts Ferrero successfully kept a lid on the market, which became unhinged at the start of the season after it emerged that the crop would not live up to expectations. Shocking prices were witnessed in September and it took a long time for demand to revive again. Exporters were, however, relieved that sales picked up in November.

Yet, Ferrero changed strategy last week. In an unexpected turn the market giant raised the bid to TRY 98/kg for high-quality in-shell hazeln

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