Price: €11.00
Member Price: €0.00

Hazelnuts: explosive situation

December 13, 2021 at 12:05 PM , Der AUDITOR
Play report as audio

ORDU. Although the Turkish lira remained relatively firm last week, it has now plummeted to a new low against the US dollar and euro. Issue is that S&P Global Ratings lowered the outlook for the lira to negative on Friday coupled with speculations on new interest rate cuts on Thursday. According to Bloomberg, the central bank is expected to cut interest rates by another 100 basis points to 14%. Not all reactions make sense in the hazelnut market.

Illogical prices

As the lira continues to plummet, chaos prevails in the hazelnut market with traders pointing out that not all prices on offer make sense. Problem is that the market is largely driven by exchange rate fluctuations, which have become unpredictable. While some suppliers are constantly adjusting their prices, others have retained the same prices for weeks, despite the depreciation of the Turkish lira and the rise in raw kernel prices. Prices have, in other words, drifted far apart with differences exceeding EUR 0.50/kg frequently being reported and it

View related articles

Go to the News Overview
Nuts
Jul 10, 2025
ORDU. A court ruling regarding Ferrero could lead to speculative buying on the Turkish hazelnut market. The Turkish statistics office has reduced its forecast for the coming hazelnut crop.
Nuts
Jul 9, 2025
MANILA. Although the coconut market continues to face considerable hurdles, prices for desiccated coconuts and coconut oil are proving surprisingly resilient. The Philippine government wants to support the industry.
Nuts
Jul 9, 2025
PHNOM PENH/ACCRA. While Cambodia and Vietnam are celebrating rising export figures, processors in Ghana are increasingly concerned about their industry. EU cashew imports have increased year-on-year.
Nuts
Jul 8, 2025
CAPE TOWN. South Africa, the world's leading macadamia producer, plans to potentially double its production over the next ten years. The outlook is good, but there are also some hurdles to overcome.