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
Jul 6, 2026
NEW DELHI. India is experiencing a lack of rainfall, and farmers are faced with important choices regarding peanut cultivation. Indonesia intends to announce the decision on its import policy at the end of the month.
Nuts
Jul 6, 2026
NEW DELHI/HO CHI MINH. Financial challenges are impacting cashew processing factories in Vietnam. China is a main driver. Demand is on the rise.
Nuts
Jul 6, 2026
BRUSSELS. A 0% tariff now applies for selected dried fruit imports into the EU from the US as well as a zero-tariff rate quota for US tree nuts. What will the impact be? Judging by official import statistics the answer is clear: not that much will change.
Nuts
Jul 2, 2026
ORDU/BRUSSELS. Exporters in Turkey are venting their frustration with the EU on social media. Recent import statistics highlight that their fears a justified. Crop quality and the TMO base price will set the agenda for hazelnuts in the next few weeks. Financial challenges are also prevailing.