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Press release…
Cereals exports reached 5.0 billion dollars in the first 5 months…
The total exports of the cereals, pulses, oilseeds and products sector, which includes basic food products such as biscuits, wheat flour, vegetable oils, sugary and cocoa products and pasta, soared by 7.3 percent to 5.0 billion dollars in the first five months of the year.
In May, when the highest exports in Türkiye’s history were realised, the monthly export spike of the cereals sector was 13.8 percent, above the average of all sectors. In five months, revenues from Iraq, the largest export destination, soared by 11.6 percent, while the USA ranked second despite an 8.5 per cent decline. In this period, biscuit-bread exports from product groups amounted to 706.4 million dollars, wheat flour exports amounted to 603.0 million dollars and vegetable oil exports amounted to 593.2 million dollars.
“TMO will observe market realities as well as producer expectations”
Ahmet Tiryakioğlu, Chairman of the Turkish Exporters’ Assembly (TIM) Cereals, Pulses, Oil Seeds and Products Sector Board, stated that cereals exports rose by 25.4 percent in terms of quantity in the five-month period and pointed out that agricultural productivity is more important than ever for the sector at a point where prices are declining.
“There was a decline in global wheat prices due to the increase in world wheat stocks. A significant portion of the 13.1 million tonnes of grain purchased by TMO last year was transferred to stocks this year. This year, we expect to produce 21 million tonnes of wheat due to both the increased sowing areas and the above seasonal average rainfall except for April. In an environment where stocks are high, we estimate that the wheat purchase prices to be announced by TMO will be in line with market realities, even though the expectations of producers are taken into consideration.”
“Competition will not affect our strong trade relations in the Middle East and Asia”
Emphasing that although there has been some movement in recent weeks, wheat flour export prices per KG are 16.6 percent below last year according to January-May data, Tiryakioğlu said, “Despite the decline in production in the Black Sea countries this year, there will be no excessive increase in global prices with the expectation that world wheat production will be close to 800 million tonnes. On the other hand, the demand for wheat will be lively again as the product in the warehouses of many countries, especially China and Russia, has started to decrease.”
“In the 5-month period, our wheat flour exports increased by 26.4 percent in terms of quantity. Competitor countries such as Australia, Argentina and the USA may be more aggressive in selling their crops, but this will not affect our strong trade relations in the Middle East and Asia,” he added…
