THE GLOBAL WINDOW OF TURKISH FOOD AND AGRICULTURE The Global Window of Turkish Food and Agriculture Sector
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Press release…
According to data from the Turkish Exporters Assembly (TİM), the five-month export value of the cereal, pulse, oilseed and processed products sector, which includes basic food products such as wheat flour, pasta, vegetable oils, biscuits, and sugar and cocoa products, was announced as 5.2 billion dollars.
While cereal exports decreased by 0.4 percent in terms of volume compared to the same period last year, the 4.6 percent increase in export unit prices resulted in a 4.2 percent increase in exports in terms of value. The most exported product group was chocolate and cocoa-containing products, with 526.1 million dollars, followed by sunflower oil with 472.9 million dollars. Iraq, which ranked first in the sector with exports of 789.3 million dollars, saw a decline of 13.7 percent, while the United States, where exports surged by 29 percent, ranked second with 350.7 million dollars. These two countries were followed by Syria, Algeria and Saudi Arabia, while Germany and the United Kingdom were among the top 10 countries.
‘The food industry is waiting for the new wheat harvest’
Assessing the expectations of both producers and industrialists in the wheat market as the new harvest season begins, Ahmet Tiryakioğlu, Chairman of the TİM Cereals, Pulses, Oilseeds and Products Sector Board, drew attention to the stock shortage in the private sector and said:
“Considering that food manufacturers will start the new season with insufficient stocks and that the harvested product will have limited usage potential in the first few months, we believe this will be a critical process in terms of market balances. However, this period will pass smoothly due to the public sector holding nearly 3 million tonnes of additional stocks and the lifting of wheat import restrictions. The low tendency of manufacturers to stockpile is directly related to high financing costs and product prices that offer limited profitability in the face of inflation. Increased logistics costs associated with transportation expenses also constitute a disadvantage for factories located far from the source of the product.”
“In this process, the wheat purchase prices announced by Turkish Grain Board (TMO), which protect agricultural producers, take into account public financial balance, and are set at a level consistent with inflation rates, will create a stabilising effect for all stakeholders. At this point, it is important to emphasise the sensitivity shown by our public administrators towards the problems faced by producers and industrialists,” he noted.
“In particular, the fact that our President defined food security as a national security issue at the 4th Agriculture and Forestry Council and announced the goal of a new production structure in which organised agricultural regions and logistics centres will work in an integrated manner is an indication of a strategic vision for the future of the food sector,” he added…
