Nuts

Hazelnuts: a golden opportunity

May 31, 2022 at 10:35 AM, Der AUDITOR
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ORDU. Despite Erdoğan’s assurances that inflation would improve after May, the Turkish lira has lost ground in recent weeks. The local currency even devalued by more than 20% immediately after treasury and finance minister Nureddin Nebati suggested that the lira had reached its lowest point. High inflation coupled with Erdogan’s unorthodox interest rate policy, nevertheless, present a bizarre opportunity for speculators. Suppliers have also issued cautious offers for the new crop.

Speculators run high risk

Although inflation is spiralling out of control and prices are soaring in Turkey, loans present a golden opportunity. Issue is that key interest rates are hovering at 25-30%, whereas inflation officially ranges at a much higher 70%. Speculators can, in other words, obtain loans at 30% buy any product they want and it will gain 70% in value. This has prompted several companies and individuals to invest in hazelnuts, especially since hopes are high that prices will rise and the TMO is keen to stabilise the market. Traders, however, emphasise

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