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Hazelnuts: toxic combination

September 29, 2022 at 10:21 AM, Der AUDITOR
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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.

US dollar vs euro

Last week’s central bank decision to cut key interest rates by 100 basis points to 12% may have prompted the US dollar to gain in value against the Turkish lira, but the situation is quite different for the euro exchange rate. The euro has, in fact, lost sharply against the Turkish lira since last week.

While the US dollar is profiting from interest rate hikes, the euro zone is struggling with inflation, an energy crisis and supply chain disruptions coupled with a central bank, which is too slow to act. Annual euro zone inflation the

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