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Hazelnuts: Italy doubles production

October 26, 2022 at 12:34 PM, Der AUDITOR
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ORDU/REUS. The interest rate cuts by the Turkish central bank have so far had less impact on the market than initially feared. According to the INC, Turkey remains by far the most important hazelnut producer, while Italy was able to increase its production volume by a whopping 100%.

Ferrero stops purchases

Despite the renewed interest rate cuts last week, the exchange rate in Turkey is holding relatively stable, so the central bank's decision has had little impact on the Turkish hazelnut market so far. Overall, the extremely high inflation rate in the country is causing market players, or strictly speaking all people in Turkey, to stumble massively. Ferrero has now officially stopped its purchases and announced that it will not buy any raw or shelled hazelnuts. The quantity purchased by the market leader this season is far below market expectat

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