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
Aug 21, 2025
ORDU. With the first volumes of the new crop arriving the market has caught a first glimpse of the yields and quality of this year’s hazelnuts. The TMO price has turned symbolic. Prices on offer for the new crop are showing a clear direction.
Nuts
Aug 20, 2025
MANILA. The downward trend in sea freight rates is benefiting Philippine exporters, but they are still facing further uncertainties such as customs duty increases. While prices for coconut products are being supported by tight supply, coconut oil could become cheaper in the short term.
Nuts
Aug 20, 2025
FRESNO. US pistachio exports are not doing that bad in the current season. China still tops the chart. Prospects can hardly be better for California in 2025/2026.
Nuts
Aug 18, 2025
HANOI. In the first seven months of the year, Vietnam once again significantly increased its imports of raw cashew nuts from neighbouring Cambodia. The industry is still focused on its ambitious export target.