Hazelnuts: market taken aback by nominal recovery of Turkish lira

June 14, 2021 at 10:16 AM , Der AUDITOR
Play report as audio

ORDU. After weeks in which the Turkish lira remained weak, the market has now witnessed a rather unexpected turn. Signs of economic recovery have given the local currency a lift. Bookings in the toursim industry are, for instance, much better than expected. Not all players in the hazelnut market are, however, happy about this. Many even fear that they may incur heavy losses.

Lira gains some strenght again

Holiday bookings are up in Turkey and have driven up the lira, which has gained in value to the US dollar and the euro. President Recep Tayyip Erdoğan is, in addition, expected to meet US president Joe Biden and discuss tensions at this week's NATO summit. Issue is that Turkey is central to China's Belt and Road Initiative. The talk may certainy have an impact on the lira.  

Strong domestic demand supports raw material prices

High domestic demand coupled with exporters engaging in speculative

View related articles

Go to the News Overview
Nuts
Nov 25, 2024
NEW DELHI/BUENOS AIRES. Prices for Indian peanuts are currently volatile and there is disagreement as to whether they will rise or fall in the coming weeks; both seem possible. Argentine market players are facing numerous challenges.
Nuts
Nov 25, 2024
FRESNO. Domestic demand is strong for US pistachios. Exports to China have slumped. Water is an issue in California.
Nuts
Nov 22, 2024
ORDU. While producers are patiently waiting for Ferrero to conduct the next move, producers are holding back incredible volumes of hazelnuts in Turkey.
Nuts
Nov 21, 2024
BRUSSELS. Eager suppliers are urging customers to act fast for pine nuts in China and Turkey. As recent import statistics show Russia’s export duties have failed to impress buyers in the EU this season so far..