THE GLOBAL WINDOW OF TURKISH FOOD AND AGRICULTURE The Global Window of Turkish Food and Agriculture Sector
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Press release…
Assessing the impact of disruptions on exports during this critical period, when global food trade is undergoing a critical phase due to the energy and logistics bottleneck centred on the Strait of Hormuz, Ahmet Tiryakioğlu, Chairman of the Turkish Exporters’ Assembly (TİM) Cereals, Pulses, Oilseeds and Products Sector Committee, stated that the ongoing situation in the Middle East is unfolding with a different dynamic to the Russia-Ukraine War of 2022, which directly affected the supply of cereals and oilseeds.
“At that time, product supply was disrupted; today, however, the repercussions are developing in a systematic manner, exerting pressure on the global production infrastructure through energy, fertiliser and freight costs. This situation poses a global risk by potentially triggering declines in the harvests of staple food crops such as rice, wheat, maize and soya, which could condemn countries reliant on imports to prolonged instability,” he said.
“Furthermore, high oil prices boosting demand for biofuels could create additional price pressure on products such as maize, soya and palm oil; all these developments could transform food trade from merely an agricultural issue into a matter of stability for the global economy. The Turkish food industry is managing this spiral, which is currently affecting all countries, managing this spiral affecting all nations with composure, thanks to its agile structure—tested in past crises—and its ability to access raw materials and transform them into value-added products. Despite the 14.2 per cent contraction on a monthly basis in March, the fact that our sector’s exports are approaching the 1 billion dollar mark suggests that a rapid recovery in trade figures could occur once commercial relations return to normal,” he added…
