News

Increases in chicken meat prices will stop with export restrictions in Turkey

Published May 3, 2024

Tridge summary

The Ministry of Commerce in Turkey has imposed a limit on the export of chicken meat to 10 thousand tons per month from May 1, 2024, to December 31, 2024, in an effort to control the significant price increases seen in the domestic market. The total export limit for the year has been set at 80 thousand tons. This decision aims to balance the supply and demand in the domestic market, where chicken meat prices have surged by nearly 150 percent in the last six months due to a rise in demand for red meat. Butchers and industry professionals are calling for increased oversight of market prices and the introduction of penalties to curb the escalating costs.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

It is expected that the 150 percent price increases in chicken meat in the last 6 months will stop with the effect of the export restriction imposed by the end of the year. Butchers think that with this restriction, the supply in the domestic market will meet the demand. The Ministry of Commerce has limited the export of chicken meat, including whole and parts, to a maximum of 10 thousand tons on a monthly basis, from May 1, 2024 to December 31, 2024, and 80 thousand tons in total by the end of the year. With this limitation, it is envisaged to prevent price increases resulting from increasing demand in the domestic market. High red meat prices increased the demand for more affordable chicken meat. As a result of the increasing demand for chicken meat, exorbitant prices have started to be seen recently. The export restriction decision on chicken meat taken by the Ministry of Commerce aims to meet the demand in the domestic market. It is thought that this restriction will be a ...
Source: Sondakika
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