BAKU, Azerbaijan, Jan. 12
By Nazrin Israfilova - Trend:
The depreciation of the Turkish lira rate affected the export of Azerbaijani hazelnuts in 2021, Ismayil Orujov, chairman of the Azerbaijani Hazelnut Producers and Exporters Association, told Trend .
“The demand for Azerbaijani hazelnuts has decreased due to an increase in demand for the Turkish hazelnuts,” Orujov added. “The export of hazelnuts from Turkey sharply increased, reaching a record figure during the last months of 2021 due to the depreciation of the lira rate and the low prices for hazelnuts.”
According to the Azerbaijani State Customs Committee, Azerbaijan exported 16,950 tons of hazelnuts worth about $97.5 million from January through November 2021.
The export of Azerbaijani hazelnuts decreased by 5.6 percent or $5.8 million in monetary terms for the year.
According to Turkey’s Black Sea Region Hazelnut and Hazelnut Products Exporters' Union, Turkey exported 344,370 tons of hazelnuts to 122 countries worth about $2.3 billion in 2021.
The Turkish exporters intend to achieve a new record volume by exporting over 350,000 tons of hazelnuts by the end of the season.
The Turkish lira rate has been greatly depreciated in recent months, having depreciated by 85.1 percent over the year compared to the US dollar rate.
The TRY / USD rate is 13.7 lira per US dollar as of January 11, 2022, while the TRY / USD rate was 7.4 lira per US dollar on January 11, 2021.