Photo: AFP/Anadolu Agency/Davut Genc
Eurasia
16/01/2024 07:00
In terms of value, exports declined by 9 percent compared with 2022, while the increase in volume was 7 percent.
Europe was once again the largest export market for the Turkish hazelnut.
The province of Trabzon on the Black Sea coast accounted for 28 percent of all hazelnuts exported last year. Shipments from the city to foreign countries amounted to 82,392 tons, generating $531 million in revenues. But the city’s export revenues were down 4 percent from the previous year.
Orders from the main markets, especially from Europe, declined due to elevated inflation, said Sebahattin Arslantürk from the Eastern Black Sea Exporters’ Association.
“Apart from the weak foreign demand, higher energy and labor costs, problems with accessing loans, impacted hazelnut exporters,” he said, adding that despite all those global and local challenges, companies showed a strong performance.
They anticipate a partial recovery in the European markets this year, and buyers will continue to act very cautiously, Arslantürk said. “The expected recovery can only be felt in the second half of 2024.”
Arslantürk also voiced concern over low productivity, saying, “Although production is carried out on an area of 750,000 hectares, the yield amount is below 700,000 tons. The average production is 85 kilograms per decare… We are the country with the most inefficient production in the world.”
Considering the adverse impacts of global warming, if work is not carried out to improve the current situation, the sector will suffer large losses, according to Arslantürk.
The number of Russian billionaires has reached a new all-time high, and so has their combined wealth, Russian state news agency TASS reported, referring to the latest rankings from Forbes .
Hungarian wines have a significant opportunity to break into the Asian market, and for this reason, wine marketing in the region has received particular focus. We spoke with Pál Rókusfalvy, who has been Hungary’s government commissioner responsible for national wine marketing for over two years, to learn about the progress made so far and what the future holds for Hungarian winemakers in Asia.
In recent years, Hungarian agricultural companies have implemented numerous successful projects in Central Asia, strengthening their economic ties with the region. However, operating in this area presents significant challenges.