Bulgur, Türkiye keen to gain market shares
The world is desperately looking for ways to ship wheat from Ukraine to prevent a hunger crisis in poorer countries. As Turkey is the leading producer of bulgur and demand has risen steadily in recent years, the prospects for the export market are excellent. India imposing an export ban for wheat bulgur has certainly gained additional attention.
Exceptional circumstances for wheat
Russia and Ukraine supply more than 25% of the world's wheat, and the brutal war is threatening to confront millions of people worldwide with hunger, especially in countries largely dependent on imports. The International Grains Council (IGC) recently estimated global wheat production for 2021/2022 at 781 million mt, which is 7 million mt up on 2020/2021, and consumption at 778 million mt, which is 7 million mt up on last year. The trouble is, however, not only that Russia is preventing wheat from being shipped from Ukraine but also that India has imposed an export ban to secure domestic supplies after a heatwave in March caused extensive damage and inflation is soaring.