Hazelnuts: Ferrero buys large volumes

November 16, 2020 at 10:00 AM , Der AUDITOR
Play report as audio

ORDU. The gain in value of the Turkish Lira and Ferrero's buying activities have caused a stir in Turkey's hazelnut market.

Lira gains more than 10% in value

Although the Turkish lira gained 10.1% in value last week, buyers in Europe are less delighted as export prices now range higher. Natural hazelnut kernels, 11-13 mm, more or less immediately shot up to EUR 6.00/kg DDP Germany. Rumour has it that Turkey's central bank intends to raise the key interest rate by 3% over the next few days meaning that prices are expected to climb further.

Ferrero to continue to buy

Ferrero also added fuel to the market. Issue is that the market giant issued a bid price of

View related articles

Go to the News Overview
Nuts
Nov 25, 2024
NEW DELHI/BUENOS AIRES. Prices for Indian peanuts are currently volatile and there is disagreement as to whether they will rise or fall in the coming weeks; both seem possible. Argentine market players are facing numerous challenges.
Nuts
Nov 25, 2024
FRESNO. Domestic demand is strong for US pistachios. Exports to China have slumped. Water is an issue in California.
Nuts
Nov 22, 2024
ORDU. While producers are patiently waiting for Ferrero to conduct the next move, producers are holding back incredible volumes of hazelnuts in Turkey.
Nuts
Nov 21, 2024
BRUSSELS. Eager suppliers are urging customers to act fast for pine nuts in China and Turkey. As recent import statistics show Russia’s export duties have failed to impress buyers in the EU this season so far..