Turkey to increase food reserves due to global warming and war in Ukraine

Published 2024년 6월 24일

Tridge summary

Turkey is increasing its food reserves due to global warming and the ongoing war in Ukraine, with the Turkish Grain Council (TMO) planning to stock at least 1.5 million tons of wheat, 250 thousand tons of barley, 150 thousand tons of corn, and 50 thousand tons of rice annually. The government will invest 5 billion liras ($154 million) for this purpose. The country has also suspended wheat imports from June 21 to October 15 this year to protect local producers, with the possibility of extending the suspension based on market conditions. In the first quarter of the year, Turkey imported 2.1 million tons of wheat, 69% of which came from Russia.

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Original content

Turkey has decided to increase its food reserves due to global warming and the war in Ukraine, the Yeni Akit newspaper reports. “In this regard, the Turkish Grain Council (TMO) will annually organize stocks of at least 1.5 million tons of wheat, 250 thousand tons of barley, 150 thousand tons of corn and 50 thousand tons of rice in case of unforeseen situations. The institution will spend 5 billion liras (almost $154 million) to create food reserves,” the newspaper writes, adding that Turkey wants to minimize the possible consequences of global climate change and the ongoing war in Ukraine. Turkish authorities earlier announced that they would suspend wheat imports from June 21 to October 15. After that date, the import suspension may be extended depending on market conditions. According to the report, this is one of the measures aimed at protecting local producers so that they do not suffer as a result of lower wheat prices. Turkey’s wheat imports in ...

Source: UkrAgroConsult