December 26, 2003

Turkish Wheat Prices Up; Feed Barley Prices Unchanged

Turkish wheat prices increase this week amid low supply to markets as farmers tried to adjust inventories before the new year, traders said on Thursday.

Hard red milling wheat on the Polatli exchange rose to 447,652 lira per kg ($315.9 per tonne) on Thursday from 440,500 lira last week.

The same type of wheat traded on the Konya bourse at 422,223 lira, up from last week's 396,634.

Barley prices were little changed on cash commodity bourses before the state grain board (TMO) tender to import up to 250,000 tons of feed barley to meet an expected rise in domestic demand next month.

White barley, which sold at 314,443 lira per kg on the Konya exchange last week, traded at 312,726 lira on Thursday.

Feed barley was quoted at 326,500 lira per kg on the Polatli bourse on Thursday after not being traded last week.

Demand for feed barley, the main input in animal feed, tends to rise ahead of a Muslim religious holiday due to start in early February when people sacrifice sheep and cows.

($=1,417,000 lira)