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
Jul 27, 2026
NEW DELHI/BUENOS AIRES. The severe drought in Gujarat is causing great concern amongst growers, whilst peanut farmers in Argentina are facing the exact opposite situation. The market is now considering two possible scenarios.
Nuts
Jul 27, 2026
NEW DELHI/HO CHI MINH. Only leftover stocks are available for cashews in West Africa. China is buying strongly in Vietnam. In India, the holiday season is driving demand.
Nuts
Jul 23, 2026
ORDU/BRUSSELS. The Turkish authorities are adopting a different approach this year when assessing acreage. Exporters stand to benefit most from this. Georgian hazelnut farmers are expecting prices to decline.
Nuts
Jul 22, 2026
MANILA. While domestic prices are already rising slightly, export prices for desiccated coconuts have so far bucked this trend. The situation is different for copra and coconut oil. The market is impacted by geopolitical uncertainties.