İSTİB Chairman Ali Kopuz evaluated the record increase in food prices. Stating that food inflation has become a global problem, Kopuz said that the solution lies in agriculture.
Istanbul Commodity Exchange Chairman (İSTİB) Ali Kopuz stated that the solution to food inflation is in agriculture.
Ali Kopuz made a speech at the September Assembly Meeting of the Istanbul Commodity Exchange and reminded that annual Consumer Price Index (TÜFE) increased to 19.25 percent and food inflation to 29 percent annually in August and underlined that this situation is not a special one for Turkey.
‘FOOD INFLATION HAS A SIGNIFICANT SHARE IN GENERAL INFLATION’
Indicating that even industrialized countries that have not known the inflation problem for decades, especially with the effect of the epidemic, are trying to cope with this problem, Kopuz said:
“Especially the increase in food prices has become a global problem. According to the Food Price Index announced by FAO at the beginning of this month, food prices have increased by 32.9 percent in the last year. Food inflation has a significant share in general inflation. It seems that rising food prices due to the surging global food demand along with climate change and population increases will make it more difficult to fight inflation. Inflation has also become a problem for industrialized countries with the effect of the pandemic.”
‘AGRICULTURAL POLICIES ARE THE BASIS OF THE FIGHT AGAINST FOOD INFLATION’
“Therefore, we should attach special importance to the issue of food inflation in the upcoming period as well. Agricultural policies are the basis of the fight against food inflation. As we have stated on several occasions, the problem of food inflation needs multidimensional solutions such as agricultural supports, measures to increase productivity, agricultural product planning, land consolidation, use of advanced technology in agriculture and orientation of youth to agriculture. Unfortunately, the share of agriculture in the latest growth figures was below expectations. This shows that more efforts should be made to solve the problem,” Kopuz added.
Noting that the relevant institutions should produce policies to boost agricultural production and implement the ongoing projects with determination and speed, Kopuz once more emphasized that the solution to food inflation lies in agriculture.