Ferrero has stopped buying hazelnuts in shell and continues to buy only hazelnut kernels. A price of 49.5 TL has been announced for 11-13 mm hazelnuts. Since the purchases were made in combination, the price difference between the calibers was not disclosed.
The price announced by Ferrero for hazelnuts indicates the ceiling price. The ceiling price determined by Ferrero, which already complicates the purchasing policy, may cause prices to move downwards in the free market.
This policy of Ferrero, which stopped the purchase of hazelnuts in shell and set a ceiling price for hazelnuts, is described as speculation in some circles. However, the fact that they have met their need for hazelnuts in the short term, their high yield views and their own stock policies may be factors in this.
On the other hand, after the central bank’s interest rate cut rumors, USD/TL made an upward jump. If the central bank, which is also waiting for the Fed’s interest rate decision, decides to cut the interest rate at the meeting to be held on Thursday, USD/TL will make a higher leap and this may turn into a great buying opportunity for Hazelnut buyers.
However, the current value of the Turkish Lira and the low levels of hazelnut prices are already a buying opportunity.