Export ban by EAEU stifles wheat imports of Turkey from Russia

Eurasian Economic Union (EAEU) decided to ban the export of some agricultural products to the countries outside of the union until June 30th. Russia, Armenia, Kazakhstan, Belarus, and Kyrgyzstan are currently union members and the export ban is placed on products such as wheat, soybean, sunflower, rice, onion, garlic and rye.

The ban is alarming news for Turkish companies as Turkey is one of the biggest wheat importers from Russia with an import volume of 1.5 billion USD. Consequently, Turkish companies are seeking alternative sources for its wheat supplies in order to keep production lines running without any breaks.