70 percent of the world’s hazelnuts are produced in modern Turkey. The industry employs about four million people.
The costs for the hazelnut industry are also increasing – especially after the planned path to the minimum wage of 50 percent, writes The Wall Street Journal.
The result: some prosperous farmers are impoverished, and their farms bring in fewer and fewer hazelnuts, which make up part of the world’s largest farmers.
The world is on the verge of a shortage of hazelnuts, says T. Zulfikar, based in New York, which is why they are coming. “If you’re a fan of Nutella, save it,” he advises.
Ferroe – the Italian company, which produces Nutella – is about one-tenth of the export of hazelnuts from Turkey. The company did not respond to inquiries for comment.
In November alone, the lipa lost 30 percent of its value, and from the beginning of the year – more than 50 percent.
The number of percentages fell by another six percent per hour, after which Epdogan called for a subsequent reduction in interest rates, citations and quotations. The central bank is already selling billions of dollars in foreign currency in a desperate attempt to stabilize the currency.
Epdogan believes that the reduction in interest rates is undermining economic growth. He also believes that lower interest rates also mean lower inflation – contrary to the economic and historical data. The President also said that he wanted to transform the economy and turn it into a more orientally oriented one. That’s why there is a success – the export rate is 33.4 percent in November compared to the same month last year.
The road comes for the account of the type. Textile savings are simply falling due to inflation, wages are being paid less and less, and money is rising unbelievably.
There are also signs that the strategy of the government is ahead of the export-oriented companies, and it is clear that it is trying to help others. Exporters of vehicles and automobile parts have already stated that fluctuations in the value of limestone make it almost impossible to determine prices. All this instability can bring about a change, according to economists.
The result is already visible for hazelnut growers. Tens of thousands of small farms are struggling with high production costs. The prices of the cannons are falling because of the more expensive natural gas, and the price is getting more and more expensive because of the falling linden.
Now they are afraid that they will lose market share from Italy, Georgia, the USA and other countries.
