Turkey expands food exports to Russia

Turkey expands food exports to Russia

According to Ankara Anatolia news agency (24.11.14), Turkey's white meat exports -- poultry and seafood -- increased by 447% in the first nine months, the Turkish Minister of Food, Agriculture and Animal Breeding said on Monday.
Minister Mehdi Eker said: Turkey's share of Russian imports increased in the first 9 months of the year compared with the same period last year. We predict a further increase next year."

Turkey is a major supplier of food and agricultural produce to Russia with $1.68 billion worth of trade last year.

After the U.S. and EU imposed sanctions on Russia for its role in the conflict in Ukraine, Russia retaliated with restrictions on the importation of food from the European Union and other western countries in August. The restrictions created big opportunities for Turkey and Latin American nations like Brazil, which increased food exports to Russia.

In the first nine months of the year, Turkey's exports to Russia were valued at $4.5 billion with the main export products being textiles, yarn, fabrics, manufactured goods, vegetables and fruit.

Turkish exports to Russia totalled $7 billion in 2013. Russian exports to the country stood at $19.4 billion in the period of Jan.-Sept of 2014.