Almost 100 million tons of food blocked: Turkey tries to resume exports via the Black Sea

Turkey is negotiating with Ukraine and Russia through diplomatic channels to create a new mechanism for the safe transportation of agricultural products through the Black Sea. Ankara fears that a prolonged blockade of supplies could cause a new surge in world food prices.

This is reported by Turkish media.

The main goal of the negotiations is to create conditions for the safe passage of merchant ships and to resume the export of agricultural products through the Black Sea.

Almost 100 million tons of food cannot reach the market

Due to attacks on merchant ships, civilian shipping in the Black Sea has virtually stopped. One of the consequences has been the problem of storing huge volumes of grain and oilseeds.

According to the data provided, almost 100 million tons of food cannot reach the market at the moment.

In Ukraine, about 30–35 million tons of grain and oilseeds have accumulated in elevators and temporary warehouses. In Russia, the volume is estimated at almost 60 million tons.

The situation has already affected the market: grain prices have increased by approximately 4-4.5%.

Turkey is negotiating around the clock

Turkish Deputy Minister of Transport Durmuş Yunuvar said during a meeting with the Chamber of Maritime Commerce that diplomatic channels are working around the clock.

At the same time, there are currently no specific deadlines for when the parties may be able to agree on a new security mechanism in the Black Sea.

If agreements are reached, the new system should ensure the protection of merchant shipping and contribute to the restoration of agricultural supplies.

Prices may increase by more than 10%

Turkey warns that there is little time left to solve the problem.

President of the Istanbul Grain, Pulses and Oilseeds Exporters Association (İHBİR) Kazım Taycı said that currently no products are coming to Turkey from either Ukraine or Russia.

According to his assessment, if the problem is not resolved within two months, the price increase could exceed 10%.

Turkey also risks losing billions

The supply blockade creates problems not only for Ukraine and the global food market, but also for Turkey itself.

The country’s domestic market is currently not threatened by a food shortage. At the same time, processed exports have been hit.

Turkish companies purchase raw materials in Ukraine and Russia, process them, and then export finished products to other countries.

Last year, this direction brought Turkey about $ 13 billion. Therefore, a prolonged blockade of sea supplies could lead to significant losses for Turkish exports.

Ankara is currently trying to find a model through diplomacy that would guarantee the safety of civilian shipping and restore the stable movement of agricultural products through the Black Sea.