How the collapse of the Turkish Lira will affect the vegetable, fruit, and nut markets in Eastern Europe and Central Asia

EastFruit analysts draw attention to the most important factor of recent weeks for the fruit and vegetable business in the region - sharp jumps in the exchange rate of the Turkish currency - the lira. Since the beginning of 2021, the Turkish Lira exchange rate has more than halved. Moreover, the sharpest collapse of the exchange rate occurred in the last three weeks. At the same time, quite often, following the collapse of the exchange rate, a sharp rise in the value of this currency began, as the Turkish government tried in every possible way to stop the rapid devaluation. Naturally, a decrease in the exchange rate of any country stimulates exports, while strengthening, on the contrary, worsens the position of this country's goods in foreign markets. Thus, Turkish vegetables and fruits are now becoming more competitive in foreign markets. In this regard, EastFruit analysts decided to consider the structure and geography of Turkey's fruit and vegetable exports in order to show how ...