January 26, 2007

Turkey to import at least 300,000 tonnes of corn

The Turkish state grain board TMO will import at least 300,000 tonnes of corn soon to bring domestic prices down to "reasonable" levels, TMO's General Manager Ismail Kemaloglu said Thursday (Jan 25), the IHA news agency reports.

Currently, Turkey has three to four months' of corn stocks, but prices have risen due to insufficient domestic production and increasing demand in the global markets because corn is starting to be used as a fuel source, Kemaloglu said in a news conference.

Kemaloglu noted the board will import corn in the coming days following a decision from the cabinet.