Nuts

Hazelnuts: Olam adds to chaos

March 15, 2024 at 10:24 AM , Der AUDITOR
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ORDU. First crop estimates have been issued for hazelnuts and with the local elections just around the corner it seems as if the central bank is losing its grip on inflation. Olam has unwittingly triggered quite a response.

Initial estimate too optimistic?

Common sense would normally dictate that prices have to come down when demand is low and supplies have to be sold. Big players have, however, dominated events in recent weeks. Ferrero’s rather strange approach to securing additional supplies in February have now been topped off by Olam. After announcing a purchase declaration without price or quantity, Ferrero finally issued a price of TRY 120/kg for in-shell hazelnuts in Levant quality and of TRY 240/kg for raw hazelnuts size 11-13 mm and 13-15 mm in February. This prompted lo

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