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
May 26, 2026
NEW DELHI/BRUSSELS. A shortage of diesel is currently causing Indian exporters difficulties in transporting their goods to the ports. Prices are stagnating, whilst EU imports have declined.
Nuts
May 26, 2026
NEW DELHI. More inquiries are coming in for whole cashew kernels in India. Poor drying conditions are a problem in Côte d’Ivoire. Buyers are paying more attention to quality in Nigeria. Kernel rates are simply too low for processor to make profits in Vietnam.
Nuts
May 22, 2026
ORDU. Ferrero started to buy hazelnuts in Turkey last week. Consternation prevails over the crop estimate for Turkey presented at last week’s International Nut and Dried Fruit Council. The turn prices will take has sparked differing expectations with tough negotiations ahead.
Nuts
May 19, 2026
MANILA. Coconut producers in the Philippines, as well as in other producing countries such as Vietnam and Indonesia, are watching the possible El Niño weather phenomenon with concern, as it could develop in the coming months. Rising fuel prices and limited availability are also causing problems.