'Turkey made $12.5B profit from wheat over 17 years'

ISTANBUL

International wheat trade generated $12.5 billion profit for the Turkish economy in the last 17 years, the country's agriculture and forestry minister said on Wednesday.

While Turkey imported 63.7 million tons of wheat worth $17.5 billion between 2002 and 2019, the country exported 75.7 million tons of wheat and wheat products such as flour, pasta, and biscuits worth $29.9 billion, Bekir Pakdemirli said in a statement.

This means, he said, that Ankara generated an income of nearly $12.5 billion from wheat trade in the 17 years.

"Turkey is a self-sufficient country with its wheat production of 20 million tons, and consumption of 18.5 million tons annually," he added.

Surplus wheat production is used for exporting wheat products by Turkey, which is globally the largest flour, semolina, and cracked wheat exporter, and the second-largest pasta exporter.

Pakdemirli added that Turkey supports its farmers stepping up their agricultural production.