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Ahmet Tiryakioğlu: Global food industry started 2024 with hope

Emphasising that the global food sector started 2024 hopeful despite various risks brought about by recession expectations, regional wars, climate crisis and cost increases, Ahmet Tiryakioğlu, Chairman of the Turkish Exporters’ Assembly (TIM) Cereals, Pulses, Oil Seeds and Products Sector Board, evaluated the developments as follows:

Ahmet Tiryakioğlu

“Although agricultural input costs have increased, global food prices may remain calm for a while due to the demand contraction brought about by monetary tightening programmes. What is important at this point is the continuation of the support provided by governments to agricultural producers in order to stabilise the increase in producer prices and fight inflation. These demands are behind the farmer protests currently taking place across Europe.”

“Access to finance is important for food exporters”

Pointing out that agricultural production will be one of the critical issues in an environment where it is not known how long the impact of the conflicts in the Middle East on oil and logistics processes will last, Tiryakioğlu said, “Last year, the purchases of the Turkish Grain Board (TMO) exceeded 13 million tonnes, while the agricultural support payments of the Ministry of Agriculture and Forestry exceeded 63 billion TL. Our public resources were used to support production in this process. One of the most important issues for our food exporters, who process agricultural crops and sell our products abroad with added value, is access to financing.”

“At this point, Eximbank’s promise of 50 billion dollars in support has relieved our exporters, whose financing costs have increased recently. In a very productive year in terms of yield, these domestic developments enabled us to start 2024 with great targets,” he added…

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