News

Türkiye has set a record for imports of Russian wheat

Wheat
Published Feb 17, 2024

Tridge summary

Turkey has significantly increased its purchases of Russian wheat to a record nine million tons, costing $2.7 billion, due to the halt of wheat supplies from traditional exporters such as Argentina, Brazil, and others. The reasons for this shift in export policy remain unclear. Despite this, the situation has created opportunities for Russian exporters. Other countries like Syria, Moldova, and Kazakhstan have also slightly increased their wheat supplies. In 2022, Turkey imported wheat from 30 countries, totaling 8.9 million tons, but over the past year, it imported about 12 million tons.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Over the past year, Turkey has increased its purchases of Russian wheat to a record level of nine million tons, or 1.4 times the previous level. RIA Novosti reports this with reference to data from the Turkish statistical service. In monetary terms they amounted to $2.7 billion. It is noted that the reason was a reorientation towards our grain due to the complete or almost complete cessation of supplies of this crop by traditional exporters. In particular, Argentina, Brazil, Georgia, Egypt, Israel, Iran, Cyprus and the Czech Republic stopped importing wheat to the Turkish market. Before this, Ankara purchased 222 thousand tons of such crops from these countries. Also, its shipments from Lebanon and Mexico, which amounted to several tens of thousands of tons, decreased to almost zero. The reasons for this change in export policy are unknown, but for Russian exporters the current situation opened up great prospects, which our country took advantage of. Russia increased exports of ...
Source: Rosng
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