Price: €11.00
Member Price: €0.00

Hazelnuts: buyers lose track

December 20, 2021 at 12:39 PM , Der AUDITOR
Play report as audio

ORDU. With the Turkish lira hitting new lows against the euro and US dollar and exporters issuing prices for hazelnuts that have nothing to do with the current market situation it is hardly possible for buyers to keep track of developments. Trouble is that the central bank again cut the key interest rate by 100 basis points on Thursday. Thereby, the bank is holding firm to President Recep Tayyip Erdoğan’s bizarre strategy of lowering interest rates while inflation spirals out of control.

New benchmarks anticipated

The Turkish lira has, in fact, lost around 80% in value since mid-October, when most exporters were busy by buying supplies. Key interest rates have plummeted to 14%. As inflation exceeds 20% and the population is protesting against the government’s economic policy, Erdoğan has hiked the national minimum wage by 50% to TRY 4,250 as of 2022. Experts, however, agree that this is way too little prevent people in Turkey from suffering from the depreciation of the lira. The only way for Turkey to restore market confidence would be for th

View related articles

Go to the News Overview
Nuts
Sep 3, 2026
ORDU. Much depends on how much the farmers will sell to the TMO for hazelnuts. A clearer picture on quality and demand is also starting to emerge. Further price shifts may be in store for the market with processing getting underway.
Nuts
Sep 2, 2026
MANILA. Prices are a bit deceptive for desiccated coconuts. Buyers will have to brace for El Niño driven disruptions in 2027.
Nuts
Sep 2, 2026
GAZIANTEP. Local crop estimates are far from encouraging for the new crop in Turkey this year. Illegal imports from Syria pose additional challenges. Exporters are trading US pistachios.
Nuts
Aug 31, 2026
NEW DELHI. Demand has picked up for cashews in India. Vietnam holds a 90% market share in the US.