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RIZA SEYYAR: ALL COUNTRIES MAKE ‘SAFETY STOCK’ IN CEREALS AND OILSEEDS

Press release…

Rıza Seyyar, Member of the Audit Board of the Aegean Cereals, Pulses, Oilseeds and Products Exporters’ Association, said that after the pandemic, all countries showed a very serious demand for raw materials, which are subject to international trade under the name of “safety stock” in oilseeds, cereals, pulses and all food products.

Seyyar stated that there were price increases brought about by the hike in prices and that they predicted that this cyclical fluctuation would continue until the second half of 2022.

Underlining that raw sunflower prices, which have been trading at an average of 600 dollars for many years, were traded at 1700 dollars in the first quarter of 2021, Seyyar said, “Vegetable oil prices saw the 1550-1600 dollars band in the second quarter of 2021. The reason why we have experienced these hikes in a period where vegetable oil production has increased by 7 percent compared to the averages of the last 5 years around the world is the price fluctuations brought by the pandemic.”

Pointing out that pandemic has once again reminded all our stakeholders and our people how important production is in the agricultural sector, as in all sectors and that sustainable agricultural production is at the core of economic activities, Seyyar explained, “Turkey imported 4 billion dollars of oilseeds and derivatives in 2020. In 2021, this figure is expected to exceed 5 billion dollars. Instead of being a net importer of oilseeds and their derivatives, Turkey has to support production, plan and increase production and diversity, thereby keeping the raw material source it will need in its own hands.”

“If we produce more oilseeds, we will meet the needs of cattle feed and we will be able to export derivatives of meat and dairy products thanks to more cost-effective meat and milk production. In other words, instead of seeing cereals, pulses and oilseeds as only chickpeas, lentils, kernels and corn, we’d rather to consider this sector’s value added contribution,” Seyyar added…

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