Nuts

Hazelnuts: the great unknown

November 15, 2021 11:27 AM, Der AUDITOR
Play report as audio

ORDU. The recent depreciation of the Turkish lira is having a sustained impact on the export prices for hazelnuts, especially since the lira fell to a record low against the US dollar on Friday. Traders are highly concerned over this week’s interest rate decision. The exchange rate, however, does not present the greatest unknown factor.

Exporters may be prompted to speculate

The Turkish lira hit a record low of 10 per USD on Friday and was trading at 8.70 against the euro. Although the lira has recovered slightly since, the weakness of the currency is having a sustained impact on demand and prices. Domestic demand is very good and export demand has certainly revived. Traders report that buyers in Europe are much more prepared to enter contracts, which is largely due to lower export prices. While export prices range much lower than last year, domestic demand, which is anticipated to range around 20%

View related articles

Go to the News Overview
Nuts
Oct 4, 2022
NEW DELHI. Peanuts are not holding up to expectations in India. Good news, however, is that production is highly promising. Dangerous edible oil mixtures have prompted an alert to be issued.
Nuts
Sep 29, 2022
MADRID/SACRAMENTO. Spain's almond harvest is progressing, but yields leave much to be desired. Market players are also dissatisfied with the development of demand.
Nuts
Sep 29, 2022
ORDU. With the US dollar gaining in strength and the euro losing in value buying and selling hazelnuts has become even more difficult for suppliers in Turkey. There is also some good news concerning the crop.
Nuts
Sep 28, 2022
MANILA. The coconut market, like all other markets, has been badly hit by the crises in the world market. In addition, there is the typhoon season, which has already caused damage in the Philippines; all this will have an impact on prices.