Disaster may strike
Turkey has just emerged from a four-day lockdown, which lasted from 31 December till 4 January. Covid-19 infection rates are high, and hopes are that the lockdown will show an effect in two weeks. Inflation is also driving the economy. Estimates vary widely. While Turkey Statistical Institute (TurkStat) estimates the annual inflation for 2020 at 14.6%, Turkey’s central bank increased estimates to 12.1% in October.
Market players report that the TMO has not issued any statements on its intention to continue to buy raisins in January.