Nuts

Hazelnuts: a golden opportunity

May 31, 2022 at 10:35 AM , Der AUDITOR
Play report as audio

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

View related articles

Go to the News Overview
Nuts
May 27, 2024
CANBERRA/REUS. China and Hong Kong purchased a record volume exceeding 90,000 mt of in-shell macadamias in 2023. Strange sales patterns have emerged in South Africa, Australia and Kenya. Drought is an issue in Mexico and Guatemala. Global production estimates are upbeat for 2024.
Nuts
May 24, 2024
MADRID. Exports have picked up for almonds in Spain. Crop estimates for 2024/2025 have emerged. Prices are a troublesome matter.
Nuts
May 23, 2024
MADRID/SACRAMENTO. Urgent calls for permission to treat organic crops with pesticides in areas affected by extreme drought in Spain contradict assertions that quality is more important than quantity for almonds. Pricing is also an issue in California, but for quite different reasons.
Nuts
May 22, 2024
NEW DELHI/BUENOS AIRES. India has started exporting the summer crop and international buyers can secure attractive offers here. In North and South America, the situation is partially very tense, which is mainly due to the shortage of goods.