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

게시됨 2021년 12월 22일

Tridge 요약

The article highlights the impact of the significantly devalued Turkish Lira on the country's fruit and vegetable export market, with a 50% drop in exchange rate since the start of 2021, leading to increased export competitiveness. As Turkey's fruit and vegetable exports, including nuts, brought in $5.7 billion in 2020, ranking among the top 8 global exporters, the situation is expected to boost exports, especially to Russia, Germany, Italy, and Iraq, while potentially reducing imports due to increased costs. The devaluation could also affect regional markets, with hazelnuts and mandarins becoming more competitive, and greenhouse tomatoes and apples potentially impacting local farmers in northern countries and Moldova, respectively. The article provides an in-depth analysis of the export structures and market implications for various fruits and vegetables, offering insights into the broader economic and agricultural repercussions for the region.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

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 ...

출처: Eastfruit