Price: €11.00
Member Price: €0.00

Hazelnuts: Turkey on the verge of a currency crisis

August 11, 2020 at 9:41 AM , Der AUDITOR
Play report as audio

ORDU. As the Turkish lira continues to lose ground the central bank has little means to prevent things from getting worse. Prices in the hazelnut market range nominally lower than the TMO prices.

Buyers in Europe profit

The devaluation of the Turkish lira has a drastic impact on exports. As the lira has lost 10% in value against the Euro over the last few weeks one euro currently costs aroung TRY 8.60. Another currency crisis appears to be unaviodable and Turkey's central bank may not have a suitable solution this time. To make matters worse the coronavirus pandemic has trigerred a recession - tourists are mostly staying away, agricultural prices are falling and the gross domestic product is witnessing a depression.

After the setting of the TMO base

View related articles

Go to the News Overview
Nuts
Sep 3, 2026
ORDU. Much depends on how much the farmers will sell to the TMO for hazelnuts. A clearer picture on quality and demand is also starting to emerge. Further price shifts may be in store for the market with processing getting underway.
Nuts
Sep 2, 2026
MANILA. Prices are a bit deceptive for desiccated coconuts. Buyers will have to brace for El Niño driven disruptions in 2027.
Nuts
Sep 2, 2026
GAZIANTEP. Local crop estimates are far from encouraging for the new crop in Turkey this year. Illegal imports from Syria pose additional challenges. Exporters are trading US pistachios.
Nuts
Aug 31, 2026
NEW DELHI. Demand has picked up for cashews in India. Vietnam holds a 90% market share in the US.