Turkish ministry: Average wheat price decreases to $320 thanks to grain deal

Turkish Minister of Agriculture Vahit Kirishchi has said that the average price for wheat decreased from $440 per ton to $320 due to the implementation of the grain deal.

The Turkish minister made the remarks at a meeting of agricultural producers in Istanbul, News Russia Posts reports citing the TRT channel.

“As of January 5, 16.8 million tons of agricultural products, including grain, were exported along the grain corridor via 626 ships. If at the beginning of the conflict in Ukraine, the price per ton of wheat was $440, now it is within $320,” he said.

Kirishchi noted that 54 per cent of agricultural products from Ukrainian ports were delivered to European countries, 28 per cent to Asia, 12 per cent to Africa, and six per cent to the Middle East.

Agreements on food exports from Ukraine were concluded in Istanbul on July 22, 2022, for 120 days. One of the agreements was initially valid until November 19, 2022, and regulated the procedure for the export of grain from the ports of Odesa, Chornomorsk, and Yuzhny controlled by Kyiv. The agreements were extended on November 17, 2022, for another 120 days. The Russian Foreign Ministry explained that the deal was extended automatically due to no objections from the parties involved in it (Russia, Ukraine, Türkiye, and the UN).