The Trade Ministry of Turkey imposes restrictions on chicken meat exports

Published 2024년 4월 30일

Tridge summary

Turkey's Trade Ministry has imposed temporary exports limits on chicken meat due to rising prices, which have surpassed inflation and production costs. The monthly export limit is set at 10,000 tons, with a total of 80,000 tons for the year. This action is aimed at safeguarding consumer welfare in the domestic market and addressing disruptions in market conditions. The decision was made after investigations revealed that speculative price increases were driven by changes in consumption habits and domestic demand. Turkey's chicken meat production saw a decline of 3.7 percent in 2023, with a reduction in the number of chickens slaughtered by 5.7 percent, but early in 2024, production experienced a 10 percent growth.

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Original content

The Trade Ministry has imposed temporary curbs on the export of chicken meat in the face of the rising prices. According to the new regulation, which takes effect as of May 1, chicken meat exports will be restricted to a maximum of 10,000 tons monthly, and to 80,000 tons in total by the end of this year. In the first months of 2024, the rate of increase in chicken meat prices has exceeded the headline inflation and costs, such as feed and energy, and monthly changes in the exchange rates, the ministry said in a statement. “This situation showed that normal market conditions and normal pricing behavior were disrupted,” the statement added. Following the studies carried out on price formation, production and exports, it was found that changes in consumption habits and domestic demand brought about speculative price increases, the ministry said. Those analyses showed that in order to protect consumer welfare in the domestic market, it is necessary to enact some regulations for the ...

Source: Hurriyetdailynews