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
Mar 19, 2026
ORDU. Last week’s preliminary crop estimate for hazelnuts has given rise to complaints. Question is in how far the current prices will attract buyers. Turkey’s Central Bank has left the key interest rate unchanged.
Nuts
Mar 18, 2026
FRESNO/TEHRAN. US shipments are still below the record volumes recorded in 2023/2024 as the February Shipment Report issued by the Administrative Committee for Pistachios shows. Exports are showing crazy gains. Crop receipts stand at a record 1.59 billion pounds. The war in the Middle East will have quite an impact on supplies in 2026/2027.
Nuts
Mar 18, 2026
MANILA. The impact of the Middle East conflict is also being felt in desiccated coconut prices. Delivery costs are also continuing to rise.
Nuts
Mar 17, 2026
HANOI/REUS. In its latest report, the INC forecasts a new record crop for cashew nuts. Almost all producing countries are set to see an increase. EU imports, however, remain at a fairly stable level.