THE GLOBAL WINDOW OF TURKISH FOOD AND AGRICULTURE The Global Window of Turkish Food and Agriculture Sector
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Press release…
The 10-month exports of the cereals, pulses, oil seeds and products sector, which includes basic food products such as biscuits, wheat flour, vegetable oils, sugary and cocoa products and pasta, were announced as 9.7 billion dollars.
Despite the 11.9 percent monthly decline in October, the monthly exports of the sector exceeded the 1 billion dollar limit. In the 10-month period, the most exported products were wheat flour and pasta, while the average export unit prices per KG of sweet biscuits and wafers, which rose to the third place, exceeded 3 dollars. On a sectoral basis, the total share of Istanbul and Gaziantep provinces, which ranked the first two, was over 50 percent.
Ahmet Tiryakioğlu, Chairman of Turkish Exporters’ Assembly (TIM) Cereals, Pulses, Oil Seeds and Products Sector Board, stated that food is the only sector whose production did not decrease among the 10 sectors followed in the Sectoral PMI Report announced by the Istanbul Chamber of Industry (ISO).
Pointing out that the contraction in the high interest rate environment does not affect the demand for food as a basic need, Tiryakioğlu said, “According to the ISO report, since the highest cost in input prices is in the food sector, the rate of increase in the prices of food products does not slow down to the desired extent. However, there is an improvement in energy prices due to the abundance of oil in the world. In its Commodity Markets Outlook Report, the World Bank points out that this situation will bring global food prices to the lowest level of the last 5 years in 2025.”
“The effects of the normalisation in food prices, which have been rising all over the world since the pandemic, will become more visible next year,” he added…
