Turk official: 'Wheat prices to remain high in next ten years'

Turkish official said that wheat harvest was increasing, however, wheat stocks fell 75 millions of tonnes over the past 10 years.

Turk official: 'Wheat prices to remain high in next ten years'
Wheat prices are expected to remain high over the next 10 years despite increasing production, an official of Turkish Agriculture & Rural Affairs Ministry said on Thursday.

Ahmet Bayaner, an executive of Agricultural Production and Development Dept., said that wheat harvest was increasing, however, wheat stocks fell 75 millions of tonnes over the past 10 years.

"Reasons for surging wheat prices are insufficient agricultural investments, climate change which is still the major factor in production, rising oil prices and agricultural costs, weak U.S. dollar and wheat demand for biofuel," Bayaner said.

He said wheat growing was still advantageous in terms of profitability despite support provided for oil seeds.

"And this advantage will remain in coming years," he said.

AA

Güncelleme Tarihi: 12 Haziran 2008, 17:06
YORUM EKLE