- By Lynda Kiernan-Stone, Global AgInvesting Media
Turkey Seeks Out Alternative Grain Supplies as Trade with Russia in Question
Turkey is seeking out alternative grain supplies as the dispute between the country and Russia over the shooting down of a Russian warplane has raised concerns over Russia halting grain shipments and the postponement of new trade deals.
Turkey is the biggest buyer of Russian grain, and so far Russia has not stopped grain exports to the country, but it has banned select food imports from Turkey, causing traders to be concerned over the possible moves each county might take that would interfere with grain trade. Many traders have stopped purchases, and although they are honoring deals already in place, they are developing alternative plans for next year.
Kiev has made it known it would step in as a grain supplier to Turkey, and the country’s agriculture minister has already met with Turkish officials to establish ties.
"We as Ukraine clearly declare - in case Russia imposes a ban on deliveries of grain and (sunflower) oils from Russia to Turkey - that we will provide food security to Turkey," said Ukraine’s Prime Minister, Arseny Yatseniuk, reports Reuters.