Price: €11.00
Member Price: €0.00

Hazelnuts: lira record low boosts demand

November 22, 2021 at 11:27 AM , Der AUDITOR
Play report as audio

ORDU. With the central bank’s decision to cut the key interest rate by 100 basis points to 15% on Thursday the Turkish lira hit new record lows against the US dollar and the euro. While President Recep Tayyip Erdoğan is determined to slash interest rates against all reason, Turkey’s economy is left to scramble. Although hazelnut exporters should now be offering unbeatable prices, the situation is not quite as simple. Ferrero has recently also issued a new bid.

Exporters confronted with backlash

The Turkish lira has slumped by more than 10% against the US dollar and euro since Wednesday when Erdoğan hinted that the central bank would again cut interest rates. A temporary rebound was also cut short as consumer confidence hit a record low on Monday. Although companies can now profit from lower interest rates in taking out loans, the problem is that high interest rates initially drove many companies to take out loans in foreign currencies in recent years. The sharp decline in value of the Turkish lira has now created a backl

View related articles

Go to the News Overview
Nuts
Sep 21, 2026
NEW DELHI/BUENOS AIRES. In India, peanut prices are declining slightly, whilst the outlook remains positive. In Argentina, the supply of available goods is limited, while the acreage in the US has shrunk significantly.
Nuts
Sep 21, 2026
FRESNO. As the final Shipment Report for 2025/2025 issued by the Administrative Committee for Pistachios shows US exports recovered but missed the 2023/2024 record. Blanks are an issue for the new crop in California. India will be a valuable customer in 2026/2027.
Nuts
Sep 21, 2026
NEW DELHI/HO CHI MINH CITY. Cambodia has gained shares in Vietnam’s raw cashew nut market. Buyers and sellers are still at loggerheads concerning kernel prices in Vietnam. Consumers do not like the recent price developments in India.
Nuts
Sep 18, 2026
SANTIAGO/NEW DELHI. ChileNut’s Shipment Report for August highlights differing trends for in-shell and shelled walnut exports. Ties to Russia have become closer. Europe accounts for the lion’s share of shelled walnut shipments. Chile has a very good standing in India.