Free of charge

Hazelnuts: Ferrero has had enough

June 13, 2017 at 12:14 PM , Der AUDITOR
Play report as audio

ORDU. According to reports, Ferrero/Oltan announced that they will not be purchasing any more significant quantities this season.

This could be due to the relatively low quality of the 2016 crop, among other things. As a reaction to this news, the prices collapsed the last week. Thanks to the last price decline, other buyers are now in the comfortable situation of being able to stock up at comparatively low prices. 

Turkish hazelnut kernels

Product 

EUR/kg

Whole, 11-13 mm 

5.61

Diced, 2-4 mm 

5.50

Meal, 0-2 mm 

5.20

Hazelnut paste

5.19

DDP Germany


Nothing is impossible

The hazelnut market is split into two camps. There is general agreement with regards to the crop estimates (700,000 mt) and the carry-over stocks (50,000-100,000 mt), but these are the only things in common. There are remarkable disagreements.

A-side: The intervention purchases by the TMO have been sluggish until now, despite prices being better. Compared to last year, there still is room on the downside. Traders are selling their stocks out of fear of further losses. Ferreros' influence on the market is estimated to be much lower than in the last few years. 

B-side: Due to the unstable political situation in Turkey the announcement of additional intervention purchases could suffice drive prices up. Certain residual risk factors (weather, disease) invite both farmers and exporters to speculate. Export business is going better than expected this season, and farmers and traders may hold back their products to sell at higher prices later on.

Attached Files

File icon
Hazelnut kernels natural price chart

View related articles

Go to the News Overview
Nuts
Sep 12, 2025
ORDU. Shock prevails in Turkey as buyers need to absorb a the current market situation for hazelnuts. Exporters are running a high risk in selling. September is showing signs of a very weak start to the new export season. The Central Bank has cut the key interest rate.
Nuts
Sep 10, 2025
SACRAMENTO. Issued on 4 September, the USDA’s Objective Measurement Report for walnuts is highly upbeat about this year’s crop. This optimism is also shared in California. Shipments slumped in 2024/2025 as the final “Shipments Report” for August issued by the California Walnut Board shows.
Nuts
Sep 9, 2025
MANILA. Desiccated coconuts are trading relatively firm in the Phillippines. Container prices are finally regaining some strength.
Nuts
Sep 8, 2025
CÓRDOBA. With the harvest underway new production estimates have emerged in Granda, Spain’s largest producing region for almonds. As arrivals are picking up more offers are being issued for the new crop.