Reality kicks in
Rumour has it that some big deals have been struck, which is helping to stabilise the market. Truth, however, is that prices remained stubbornly high for weeks after Ferrero called the market to order with a bid over TRY 95/kg for in-shell Levant quality hazelnuts at the end of October. Now the game is up.
While raw material prices still ranged at TRY 93/kg at the start of November, they are currently coming down as demand is low and capital is needed. Most companies, in fact, held on to their stocks for as long as they could in the hope tha