Hazelnuts: deceptive demand

December 1, 2022 at 12:35 PM , Der AUDITOR
Play report as audio

ORDU. Speculations are running wild as to why the raw material prices for hazelnuts have soared in Turkey and in how far the legal action against Ferrero is responsible for this. Traders also disagree as to how much the TMO has really purchased.

Too much of a coincidence

Domestic prices for hazelnuts started to rise relatively soon after Turkey’s Competition Board decided to launch a legal investigation against Ferrero at the start of November. While several media reports insinuate that this is too much of a coincidence, suppliers firmly state that other factors are at play. Trouble is that the sudden uptick in domestic demand for New Year caught the market unaware. Most buyers had expected prices to decline and jumped into action when they did the opposite. This caused he market to soar in mid-Novemb

View related articles

Go to the News Overview
Nuts
Nov 7, 2024
DODOMA/NEW DELHI. The cashew harvest in the southern hemisphere is in full swing and Tanzania is recording good sales. Christmas and Chinese New Year are currently dominating demand on the global market.
Nuts
Nov 7, 2024
ISTANBUL/FRESNO. Dubai chocolate Is not to blame for the current standstill in trading pistachios in Turkey. US exports were highly disappointing in September. Yet, the tide is about to turn with more upbeat prospects emerging in California.
Nuts
Nov 6, 2024
MADRID/SACRAMENTO. While global almond production cannot quite fulfil the expectations expressed in the spring, the yield outlook for the 2024/2025 season remains positive.
Nuts
Nov 6, 2024
ORDU/REUS. Quality issues persist for hazelnuts in Turkey. Ferrero is keeping exporters busy. Georgia is attracting customers. For the INC it is impossible to update the crop estimate for Turkey.