Nuts

Hazelnuts: tricky demand situation

May 19, 2022 at 12:09 PM, Der AUDITOR
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ORDU. Economists reckon that Turkey is witnessing an unprecedented economic crisis of epic proportions. Hazelnut suppliers report the inflation is much worse than official figures suggest, and exporters are dealing on slippery grounds. The production estimates issued at the International Nut and Dried Fruit Congress also illustrate some surprising trends.

Unprecedented crisis

Although holding relatively firm against the euro, the Turkish lira has recently slipped against the US dollar. In declining by 16% this year alone the lira is, in fact, the worst performing currency after the rupee in Sri Lanka and the cedi in Ghana as Bloomberg reports. As President Recep Tayyip Erdoğan and the central bank continue to employ unorthodox methods to stabilise the economy there is little faith in the market. Analysts agree that the lira will depreciate further.

Hazelnut suppliers report that reality is much more frighten

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