Nuts

Hazelnuts: slippery grounds

July 7, 2022 at 12:06 PM , Der AUDITOR
Play report as audio

ORDU. Turkey’s official inflation rate soared to a 24-year high of nearly 80% in June. Faith in such official figures is, however, dwindling as real inflation ranges twice as high. These shocking figures not only spell political and economic disaster but also show how slippery the grounds are for Turkey’s hazelnut suppliers.

Low confidence

Annual inflation rose from 73.5% in May to 78.6% in June according to official figures. Although the government is keen to blame soaring oil and gas prices for this dilemma, confidence in president Recep Tayyip Erdoğan’s unorthodox policies is dwindling fast. A recent survey conducted by the Metropol polling agency highlighted that only 24% of respondents believe the official government figures. A stunning 69% have more faith in the unofficial figure issued by Turkey’s ENAG group of independent economists, which states that consumer price

View related articles

Go to the News Overview
Nuts
Jul 22, 2024
NEW DELHI/AUSTIN. Although US growing regions in the Southwest have faced some heavy rains, growers in parts of Texas continue to face drought and water shortages. In India, prices could soon receive support.
Nuts
Jul 18, 2024
BRUSSELS/ORDU. Given that prices have surged this season it is quite remarkable that EU imports have risen for hazelnuts in the first six months of the year. Suspense is palpable in Turkey with the TMO and Ferrero expected to take decisive action very soon. Offers for the new crop are circulating.
Nuts
Jul 17, 2024
HANOI/NEW DELHI. Vietnam's exports in the first half of 2024 are quite impressive, and many destination countries have increased their purchase volumes. Meanwhile, prices in India remain stable.
Nuts
Jul 16, 2024
SACRAMENTO. Opinions may be contradicting but June was a very strong month for US almonds. With the season in its final stages concerns are being voiced over remaining supplies and the state of the new crop.