Turkey to take measures on food supply quality, prices

ANKARA – Anadolu Agency

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Turkey will set up a special committee to take measures to control the quality of Turkey’s food supply chain and its prices, the Turkish Central Bank announced on Feb. 21.        

The bank’s statement came after a Food and Agricultural Product Markets Monitoring and Evaluation Committee meeting chaired by Deputy Prime Minister Mehmet Şimşek.
 
According to the committee, working groups have been established to improve incentives, standardization, and competition with the aim of enhancing the effectiveness of the food supply chain.     
   
The bank said signals from a new early warning system were assessed to take product-based measures expected to be beneficial in the short term.        

The system, established under the coordination of the Central Bank and the Food, Agriculture and Livestock Ministry, is meant to support stable supply and price formation for food products.        

Earlier this month, the Turkish Statistical Institute (TÜİK) announced that consumer prices in Turkey rose 9.22 percent year-on-year in January from 8.53 percent in December 2016.        

According to TÜİK, the highest monthly increase was in food and beverages, which rose 6.37 percent.