Dried Fruit

Sultanas: export prices defy exchange rates

December 21, 2021 at 12:27 PM , Der AUDITOR
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MANISA/TEHRAN. The Turkish sultana market adjusts to the currency losses, so there is hardly any change for foreign buyers compared to last week. In contrast, the Iranian raisin market experiences noticeable price corrections.

Lira continues to lose value

Last Thursday, Turkey's central bank cut its key interest rate by 100 basis points to 14%. In December, the central banks of 55 countries worldwide, including the European Central Bank, announced interest rate decisions. 14 of them raised interest rates, while 40 countries left rates unchanged. Turkey was the only country to cut interest rates. The depreciation of the Turkish lira accelerated significantly following the rate cut.

Market players state that it is impossible to see where the devaluation of the Turkish

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