Home / Agricultural Economy / Agribusiness / HALUK TEZCAN: RUSSIA SEES WHEAT AS A STRATEGIC PRODUCT


The Black Sea grain deal, which was set to expire May 18 but was extended for two months, is important to keep global food supplies flowing and stabilize markets for all customers, according to the World Food Programme (WFP).

“We don’t see prices rising again and hitting the poorest people the hardest,” the UN organization told Anadolu Agency, underlining that the continuation of the initiative was good news for the entire world.

On the other hand, Haluk Tezcan, the head of the Turkish Flour Industrialists’ Federation (TUSAF – TFIF), said the country’s efforts were important for the rest of the world, especially nations that have difficulties accessing basic food products.

Pointing to the coronavirus pandemic and Russia-Ukraine war, he said those kinds of problems caused price fluctuations and inflation in food.

Haluk Tezcan

“With the grain corridor, a serious advantage was gained in terms of product accessibility and price — the price for both underdeveloped and developed countries to reach bread has decreased,” he said.

Tezcan stressed that Russia sees wheat as a strategic product and wants to keep prices at a certain level, as is the case with oil, preventing a significant decrease in its price.

About İsmail Uğural

Check Also

Cocoa prices break records as ‘Climate Extremes’ hit African output!

Cocoa prices have skyrocketed, following climate shocks and disease outbreaks in West Africa. India has …

Leave a Reply

Your email address will not be published. Required fields are marked *