Wheat and sunflower oil prices fell sharply in Turkey

Published 2023년 4월 4일

Tridge summary

The international market has seen a decrease in the prices of wheat and sunflower oil, which are among the most imported agricultural products of Turkey. Wheat prices, which rose to 530 dollars a ton after the Russia-Ukraine war, have dropped below 300 dollars, with the lowest bid in a recent tender by the Turkish Grain Board being $281.90. Sunflower oil prices, which increased to 2150 thousand dollars per ton, have also decreased to 900 dollars. The decrease in prices is attributed to Russia's production exceeding 100 million tons last season and the operation of the grain corridor. However, Russian farmers sell wheat for only 100-125 dollars due to high production costs. Sunflower oil is currently the cheapest oil on the market, with serious purchases being made as the prices have not been this low for a long time.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The prices of wheat and sunflower oil, which are the most imported agricultural products of Turkey, continue to decline in the international market. While wheat prices were 335 dollars a ton before the Russia-Ukraine war, they rose to 530 dollars after the war. However, in the last period, the ton price of wheat has been below 300 dollars. The lowest bid given in the tender held by Turkish Grain Board (TMO) on March 28 was $281.90. Crude sunflower oil, on the other hand, increased to 2150 thousand dollars per ton in the international market, but recently it has decreased to the level of 900 dollars. Eurasia President of the International Flour Industrialists and Grains Association (IAOM) Dr. Eren Günhan Ulusoy stated that the price decrease in the international market was very effective, with Russia's production exceeding 100 million tons last season and the export target of more than 45 million tons throughout the season. Ulusoy also noted that the operation of the grain corridor ...

Source: Haber7