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Hazelnuts: industry on edge over Ferrero’s inaction

October 6, 2023 at 8:47 AM , Der AUDITOR
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ORDU. Hazelnuts have witnessed a turbulent start to the season, which has left many suppliers in a precarious position. Although the TMO jumped into action quite quickly, Ferrero has been oddly inactive so far.

Ferrero needs to act

Declared at the start of August the TMO’s bids over TRY 84.00/kg for Giresun quality hazelnuts and TRY 82.50/kg for Levant quality quickly became redundant after market prices started to surge driven by complaints over quality and crop size. Market prices, in fact, hit TRY 100/kg for inshells in September thereby also outpacing Ferrero’s purchasing price of TRY 79 .00/kg for Levant quality and TRY 80.00/kg for Giresun quality. While the TMO can easily afford to be inactive, Ferrero may very well have to adjust its strategy.

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