Turkey limits exports of red meat following supply bottlenecks

The Turkish Trade Ministry has limited the exports of red meat following price hikes and supply bottlenecks hobbling the local market.

Duvar English

Turkey has restricted the exports of red meat, excluding those to Turkish Cyprus and Azerbaijan, a circular sent by the Trade Ministry to relevant directorates on March 21 said, according to reporting by finance-focused Dünya newspaper.

Turkish companies will not be allowed to export the meat of bovine animals, sheep and goats, abroad, excluding Turkish Cyprus and Azerbaijan as well as the Nakhichevan Autonomous Region.

The decision comes after the Meat and Milk Institution (ESK) on March 22 announced 48 percent hikes in the prices of red meat sold by them.

The Trade Ministry said in its decision that it introduced the restrictions to “protect the supply-demand balance.”

The chair of the Meat and Milk Institution reportedly had said the price hikes had to be introduced due to “long lines” formed by customers.

According to the National Red Meat Council, feed prices increased by over 160 percent, pushing the prices of meat up.

Farmers have had to slaughter their animals as costs to feed them rise, placing bottlenecks in the supply of red meat, according to a report on the BBC’s Turkish service on March 24.

Quoting sector representatives, the BBC Turkish report said high costs and supply snags will push meat prices by at least 30 percent in the next two months.