Tomatoes and cucumbers, watermelons, and even bananas exports from Turkey will grow

Published 2023년 6월 16일

Tridge summary

Following the re-election of Turkish President Recep Tayyip Erdogan, the Turkish currency, the lira, has experienced a significant decline by 14% against the US dollar, marking a 2.7-fold depreciation over the past two years. This currency drop is anticipated to bolster Turkey's fruit and vegetable exports, which have already seen a 10% rise in the first four months of 2023, as a weaker local currency often stimulates exports and restricts imports. As the largest exporter of fresh fruit and vegetable products in the region, including cherries, apricots, peaches, plums, dried fruits, and watermelons, Turkey is poised for an increase in export volumes of these products. The article also mentions the potential for increased exports of bananas, apples, lemons, tangerines, hazelnuts, almonds, and avocados if the current export bans on onions and potatoes are lifted.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

By a probably completely coincidental coincidence, immediately after the end of the presidential elections in Turkey, in which the current president of the country, Recep Tayyip Erdogan, won, the Turkish currency suffered another collapse. And this, according to EastFruit analysts, has a huge impact on the fruit and vegetable trade of the entire region: Central Asia, the countries of the Caucasus, Eastern Europe (especially Ukraine), the Middle East and even the European Union. Since the end of the election, the value of the Turkish lira has already fallen by 14% against the US dollar, and the currency's downward trend continues. It is interesting that exactly two years ago, 8.67 Turkish liras were given for one dollar, and today it is already 23.37 liras. Thus, in two years, the Turkish currency has already depreciated by 2.7 times. It is well known that a depreciation of the local currency always helps to stimulate exports and severely limits the possibilities of imports. In the ...

Source: Infoindustria