The Turkish Grain Board (TMO) said it will continue grain sales to secure supply, meet sector raw material needs and support food price stability. About 1.5 million tons of grain have been sold since sales began on September 1. A total of 5.5 million tons will be offered to the market in November. Sales continue at prices announced at harvest, with no price increase.
How the sales work
Stocks held in licensed warehouses are sold electronically through ELÜS via TÜRİB, the Turkish Product Exchange, to any buyer. Stocks in TMO warehouses go directly to end users, including flour, pasta, bulgur, biscuit and semolina makers, as well as feed, livestock and poultry producers. Barley sales to livestock producers and feed factories also continue.
For the feed industry, the board added low-grade wheat. One million tons of it is being offered on 90-day deferred payment without maturity difference, or in three instalments by credit card. The board framed the measures around logistical difficulties in Black Sea supply, which it linked to the ongoing war in the neighbouring region.
Supply and price stability
The stated aim is to keep raw material flowing to processors while holding food prices steady. The board did not say how the 5.5 million tons will be divided between channels. It also did not say whether further sales beyond November are planned.
Also Read
Source: Turkish Grain Board (TMO)
