The Turkish Ministry of Agriculture and Forestry will indefinitely suspend the export of butter and cream from today. Turkey exported
The Turkish Ministry of Agriculture and Forestry will indefinitely suspend the export of butter and cream from today.
Turkey exported 3.154 tons of butter in 2021, which rose to 3.874 tons in the first two months of 2022—concerning Ankara about Turkey’s ongoing inflation and ability to meet increased food demand in the summer, a time of increased tourism.
Turkey’s inflation rate, which hit 61% year-on-year in March, helps inform these export restrictions. Erdogan’s government seeks to suppress rapidly rising costs of goods by increasing domestic supply stocks, particularly of food items, which are rising in price globally amid the Russia-Ukraine War.
The Ministry predicted the export ban when it temporarily banned certain agricultural exports on March 10, publishing a list of possible restrictions on specific commodities. Among the halted export goods was olive oil,
Prices are likely to continue rising, especially for food products. Ankara is likely to restrict certain seasonal produce, such as green plums, next. The price of green plums is highly inflated, and they primarily go to Russia, Germany, and the Netherlands.