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 6, 2026
NEW DELHI/HO CHI MINH. Financial challenges are impacting cashew processing factories in Vietnam. China is a main driver. Demand is on the rise.
Nuts
Jul 6, 2026
BRUSSELS. A 0% tariff now applies for selected dried fruit imports into the EU from the US as well as a zero-tariff rate quota for US tree nuts. What will the impact be? Judging by official import statistics the answer is clear: not that much will change.
Nuts
Jul 2, 2026
ORDU/BRUSSELS. Exporters in Turkey are venting their frustration with the EU on social media. Recent import statistics highlight that their fears a justified. Crop quality and the TMO base price will set the agenda for hazelnuts in the next few weeks. Financial challenges are also prevailing.
Nuts
Jul 2, 2026
IRVING/BRUSSELS/BEIJING. As the recent Position Report issued by the American Pecan Council shows EU member states have started to buy US in-shell pecans. The EU has set an import rate quota that affects US pecans. Chinese processors are not happy with the delay on the EU’s decision to raise the maximum level for nickel in pecans.