THE GLOBAL WINDOW OF TURKISH FOOD AND AGRICULTURE The Global Window of Turkish Food and Agriculture Sector
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Press release…
Stating that they expect wheat flour exports, which were 605 thousand tonnes in the first quarter, to exceed 3.5 million tonnes at the end of the year with the end of wheat import restrictions, Ahmet Tiryakioğlu, Chair of the Turkish Exporters’ Assembly (TIM) Cereals, Pulses, Oil Seeds and Products Sector Board, said, “As the world’s largest wheat flour exporting country, the agricultural strategies we implement directly affect the prices in the global commodity market.”
“As a result of wheat import restrictions imposed with different quotas since June last year, our wheat flour exports decreased by 600 thousand tonnes compared to the previous year. In this period when wheat prices in the world hovered at a more favourable level of 250 dollars per tonne, the raw material supplied from the domestic market had a negative impact on our competitive advantage in exports,” Tiryakioğlu said.
Pointing out that during this period when they were concentrating on the export of other products, some competitor countries such as Egypt sought new opportunities, especially in the African market, Tiryakioğlu added, “In the 9-month period that has passed, the difference between the domestic and foreign markets has decreased slightly with the effect of the exchange rate increase. The increase in raw material prices caused by the decline in Russia’s wheat supply was partially offset by the fluctuations caused by the tariffs imposed by Trump. Our flour exports to regions where demand is concentrated, especially Syria, with which we have recently developed strong trade relations, will boost rapidly.”
