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
Jun 23, 2026
MANILA. Improved availability and low demand are having an impact on the prices of various coconut products. El Niño is causing market players increasing headaches, as are the high freight rates.
Nuts
Jun 23, 2026
NEW DELHI/BUENOS AIRES. Selling pressure on Indian peanuts continues, and other producing countries such as Argentina are proving significantly more competitive in terms of pricing. Sowing has been completed in China, and US farmers have to weigh up their options.
Nuts
Jun 22, 2026
CANBERRA. Almond exports from Australia reached a new record in April 2026. However, following a slow start to the season, total exports are slightly below last year’s volume. Heavy rainfall during the harvest period challenged growers’ ingenuity.
Nuts
Jun 22, 2026
NEW DELHI. In Vietnam, the trading environment is rather difficult for cashew kernels. Possible new US import duties are looming on the horizon.