Hazelnuts: the great unknown

November 15, 2021 at 11:27 AM , Der AUDITOR
Play report as audio

ORDU. The recent depreciation of the Turkish lira is having a sustained impact on the export prices for hazelnuts, especially since the lira fell to a record low against the US dollar on Friday. Traders are highly concerned over this week’s interest rate decision. The exchange rate, however, does not present the greatest unknown factor.

Exporters may be prompted to speculate

The Turkish lira hit a record low of 10 per USD on Friday and was trading at 8.70 against the euro. Although the lira has recovered slightly since, the weakness of the currency is having a sustained impact on demand and prices. Domestic demand is very good and export demand has certainly revived. Traders report that buyers in Europe are much more prepared to enter contracts, which is largely due to lower export prices. While export prices range much lower than last year, domestic demand, which is anticipated to range around 20%

View related articles

Go to the News Overview
Nuts
Feb 21, 2025
THERAN/FRESNO. As the January Shipment Report issued by the Administrative Committee for Pistachios (ACP) highlights US exports have slumped. Inventories are limited but projections for the 2025 crop are encouraging. Iran is about to lose its competitive position.
Nuts
Feb 19, 2025
MANILA/HANOI. The cultivation of coconut palms is to be increased in both the Philippines and Sri Lanka. This could lead to a shift in market dynamics. Meanwhile, Vietnam recorded a 20% rise in coconut exports last year and wants to expand its cooperation with China.
Nuts
Feb 19, 2025
NAIROBI/CANBERRA. Kenyan farmers and traders are suffering from the export ban on in-shell macadamias. Australian exporters, meanwhile, have reason to celebrate. EU imports in 2024 rose slightly.
Nuts
Feb 19, 2025
TORREÓN/BRUSSELS. Production has fallen short of expectations in Mexico and the USA. Buyers will have to brace for a supply squeeze. Trump’s tariffs spell bad news for US pecans. EU imports have risen.