Turkey’s paddy production and existing stocks are sufficient to maintain market stability, the Turkish Grain Board (TMO) announced. According to the statement, paddy production in 2024 is expected to reach 1 million tons (around 600 thousand tons of rice), up 11.2% from the previous year. It was also stated that the market, which was stagnant before the harvest, became active with the purchase prices announced on September 13, 2024 and that the prices were shaped in line with the levels set by TMO.
TMO pointed out that the sudden price increases in the paddy market in recent days and the interruptions in product supply may be speculative movements. The institution emphasized that the market is monitored instantly and that strong stocks and market regulation powers will be activated when necessary. Considering the increase in production compared to last year, the existence of stocks in the hands of producers and the amount of product in circulation, it was underlined that there is no situation that requires price fluctuations.
TMO assured the public that all necessary steps would be taken to maintain market stability.