'Turkey's rice price hike due to speculators'

Turkey`s agricultural minister, Mehdi Eker, told reporters on Thursday, the recent surge in Turkey's rice prices is the result of companies refusing release rice stocks into the market, and assured rice stocks were sufficient to meet the country's current needs.
Speaking about the recent surge in prices, Eker stressed the country was not facing a supply shortage and that Turkey had about 120,000 tons stock piled in its silos, and a further 90,000 tons held at its ports. "In other words, with around 210,000 tons of rice stock piled there is no shortage on the supply side; the problem we have is with the speculators who refuse to release stocks into market," he said.
"There is no need to panic; Turkey has sufficient rice stocks to last until the beginning of new harvest. There is only rise in food prices on the shelves; here is where the problem lies. We will take the necessary measures required." Eker added.
As part of the government's measures to force down internal prices, the Ministry of Agriculture gave the Soil Products Office (TMO) permission import tariff-free rice.