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Hazelnuts: price adjustments in the export market

October 26, 2020 10:41 AM, Der AUDITOR
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ORDU. Turkey's Central Bank's interest rate decision has taken the market by surprise. Crackers have sparked additional confusion in adjusting their hazelnut prices. Although enquiries are up, buyers are careful to draw full advantage of the current market situation, especially Ferrero.

Suppliers are more audacious

Contrary to expectations, Turkey's Central Bank decided to leave the key interest rate unchanged at 10.25% last week, thereby prompting the Turkish Lira to lose around 1% in value against the Euro and the US dollar. Analysts initially anticipated a 1-2% change as happened in September.

In shell farmgate prices are trading firm at TRY 24.00/kg. Crackers have, however, cut raw kernel prices by TRY 1.00/kg to TRY 47.00-47.50/kg. Market players reckon that this adjustment is prompted by lower demand and an intention to put farmers un

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