Türkiye will increase food reserves

Published 2024년 6월 24일

Tridge summary

Turkey is increasing its food reserves, particularly wheat, due to concerns over global warming and the situation in Ukraine. The Turkish Grain Board (TMO) will store 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 spend five billion liras (almost $153 million) on creating these food reserves. Turkey has also suspended wheat imports from Russia, which is the main supplier of wheat to the country, until October 15, and may extend the suspension based on market conditions. The suspension is aimed at protecting local producers from lower wheat prices. In the first quarter of this year, Turkey imported 2.1 million tons of wheat, 69% of which was from Russia.

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Original content

RIA News. Türkiye has decided to increase its food reserves due to global warming and the situation in Ukraine, writes the Yeni Akit newspaper. “In this regard, the Turkish Grain Board (TMO) will annually organize reserves 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 publication says. Five billion liras (almost $153 million) will be spent on creating food reserves. According to media reports, Ankara thus wants to minimize the possible consequences of global climate change and the ongoing conflict in Ukraine. Turkey previously announced the suspension of wheat imports from June 21 to October 15. This measure may also 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 the first quarter of this year ...

Source: Oilworld