Hazelnuts: industry on edge over Ferrero’s inaction

October 6, 2023 at 8:47 AM , Der AUDITOR
Play report as audio

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.


View related articles

Go to the News Overview
Feb 23, 2024
TEHRAN/FRESNO. With California chasing records pistachios may soon experience a supply glut. Cautions prevails over this year’s crop. Iran’s exports to the EU have gained again.
Feb 21, 2024
NAIROBI/CAPE TOWN. Kenyan market players are already benefiting noticeably from the government's decision to temporarily lift the export ban on unprocessed macadamias. Prices in South Africa have fallen sharply in recent years.
Feb 20, 2024
BRUSSELS/SACRAMENTO. EU imports have slumped by 21% for almonds this season so far. With the impacts of the climate crisis gaining attention the industry is keen to promote almonds as good. Production prospects could hardly differ more in California and Spain this year.
Feb 19, 2024
FORT WORTH/ATLANTA. Supplies are tight for pecans. US exports are down. China has bought record volumes this season.