Nuts

Hazelnuts: market turns in unexpected direction

August 16, 2023 at 11:21 AM , Der AUDITOR
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ORDU. Apparently the TMO’s bids over TRY 82.5/kg and TRY 84.00/kg for inshell hazelnuts has taken many suppliers by surprise. Yet, this only partly explains the sharp price corrections that have taken place in recent days. Ferrero’s actions will also prove decisive.

Waiting for Ferrero

Reactions were swift and rather unexpected to the TMO’s decision to issue a bid over TRY 82.50/kg for Levant quality nut and TRY 84.00 for Giresun quality nuts. Hushed voices state that some new crop sales were conducted on the assumption that the state-run organisation would declare a lower price of TRY 80.00/kg. This, however, only partly explains why prices have surged in recent days. The TMO bids, in fact, only range 3% higher than initial expectations but raw nut prices jumped by 7% (TRY 10/kg).

Trouble is that sellers are rath

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