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Turkey will allow meat imports to combat high prices

Staff writer |
Turkish government will offer permits for meat imports to lower prices and to prevent consumer losses, Economy Minister Mustafa Elitas said.

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Elitas listed the rise in red meat prices as one of the most negative elements that have increased the country’s inflation rate.

"In line with the European Union deal, we import an average of 20,000 tons of meat. Our colleagues have now been working on the issue. We’ll give the permit for meat imports to maintain meat prices and to overcome consumers’ losses," he said at the launch ceremony of the 12th International Istanbul Furniture Fair (IMOB).

Additionally, Turkey has promised to import around 15,000 tons of meat from Bosnia Herzegovina, he noted.

"[Bosnia Herzegovina] made around 9,000 tons of [meat]. We’ll import around 6,500 tons of meat this year and the next year. We hope this will help to eliminate the negative effects of seasonality in the upcoming three months," Elitas said.

Turkey’s inflation rate has been rising due to a number of reasons, mainly the rise in food prices and the Turkish Lira’s loss of value. The Turkish Central Bank increased its inflation forecast rate by one point from 6.5 to 7.5 percent for 2016, but is keeping its target of "5 percent" for the following three years.

"We’ll do our best to decrease the annual inflation rate below 7.5 percent as the Economy Ministry."

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