Nuts

Hazelnuts: the great unknown

November 15, 2021 at 11:27 AM, Der AUDITOR
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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%

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