Have you heard about the recent collapse of the Turkish Lyra? This is a problem not only for Turkish residents - Nutella lovers can suffer around the world

The record drop in the course of the Turkish lira led to the fact that farmers in Turkey began to reduce the production of hazelnuts. This can lead to a hazard in the world, writes The Wall Street Journal.

Since the beginning of 2021, Lira has almost doubled in relation to the dollar; The most serious fall was in November, when the Turkish currency in a month lost 40% of the cost. Turkish President Recep Tayyip Erdogan stands for low interest rates - which, in conditions of already high inflation, causes the fear of investors in the depreciation of their assets nominated in lies and leads to their exit from this currency.

The fall of the lyre led to the fact that the manufacturers of the hazelnut in Turkey were faced with a serious increase in costs-all fertilizers, seeds and pesticides imported from abroad, in Turkish liras, began to cost more (in addition to the fact that in dollars the prices of fertilizers since 2020 jumped three times). Because of this, farmers have to use less fertilizers and, as a result, get the worst crop.

In Turkey itself, energy and transport services are valued, and the government plans to increase the size of the minimum salary. All these additional costs have led to the fact that for many farmers, the growing nuts became unprofitable, and they close their production.

Türkiye is the largest manufacturer of hazelnuts in the world - this country accounts for 70% global supplies; About four million inhabitants of Turkey are engaged in the industry. At the same time, the Italian Corporation Ferrero purchases more than a third of Turkish nuts, which with them is used by Nutella chocolate paste, as well as sweets and chocolate bars. Reducing supplies will inevitably provoke prices for end consumers.

“The world is facing a lobe deficiency. If you are a fan of Nutella, it is better to buy it in reserve during the closest trip to the grocery store, ”said Turkan Turgugan Zyulfyar, in a conversation with The Wall Street Journal.