The two-month grain export of Southeast reached 560 million dollars

President of the Southeast Anatolia Grain Pulses Oil Seeds and Products Exporters’ Association Celal Kadooğlu reported that they increased exports by 19.5 percent in the first two months of the year, reaching 560 million dollars.

Kadooğlu stated in a written statement that grain traders in the Southeast made approximately 100 million dollars more sales compared to the same period last year.

Kadooğlu noted that Iraq’s share in total grain exports to the region exceeded 36%, mentioning that African countries such as Djibouti, Libya, Ghana, and Togo were among the top 10 largest markets.

Referring to the decrease in demand due to the global economic recession, Kadooğlu mentioned the pressure of surplus stocks carried over from previous years on wheat prices, stating:

“Increasing exports by 19.5% in the first two months of the year, we reached grain exports of 560 million dollars. Wheat production worldwide has exceeded 1.5 billion tons in the past 2 years. In this abundance continuing since 2022, financially capable countries have stored high amounts in their warehouses. As the new harvest season approaches, we see an intensification of competition in this field, which also creates some pressure on global prices. In our region, there is a decline of nearly 10% in export unit prices of wheat. On the other hand, since the purchasing power of each country is not the same, demand in economically less developed regions has not stopped. We confirm this from the fact that the quantity of wheat exports in the first 2 months increased by 15% compared to the same period last year. We export the most wheat from Southeast Anatolia to Iraq, Syria, Djibouti, Ethiopia, and Somalia.”

source: prepared by Melisa Beğiç

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