TURKISH AGRI.NEWS

Turkey’s Ulusoy Un, which has ramped up flour production in the face of the coronavirus outbreak, has mandated consulting firm Pragma to explore strategic partnerships including a possible stake sale, two sources close to the matter told Reuters Wednesday. One of the sources said the company “might be valued at more than $100 million,” adding any stake sale would depend on the offer received. Ulusoy Un and Pragma declined to comment... In a later statement to the Public Disclosure Platform (KAP) Wednesday, the company confirmed the reports that it mandated Pragma to explore potential partnerships. “Our Board of Directors has decided to postpone the announcement so that the relevant process does not adversely affect our investors and our company,” the statement read. “In the next process, developments related to the subject will be shared with our investors and the public in accordance with the SPK (Capital Markets Board of Turkey) and other relevant legal regulations,” it a...

Turkey's main flour exports reached their limits in 2019, with the potential for income from exports in the sector to be doubled through the selling of industrial flour products, such as biscuits and frozen dough, according to the director of the International Association of Operative Millers (IAOM) Eurasia, Last year, the country's flour exports rose to $1.05 billion from $1 billion in the previous year in terms of value, while exports dropped by around 50,000 tons to 3.3 million tons on a quantity-basis, Eren Günhan Ulusoy told Anadolu Agency (AA) Sunday. The country is the largest flour exporter and the second-largest pasta exporter in the world, said Ulusoy, who is also the head of the Turkish Flour Industrialists' Federation (TFIF). The price of flour per kilogram in exports reached $322 in 2019, from $304 in the previous year, he said. While there was a decrease in flour exports to Iraq – from 1.62 million tons to 1.36 million tons year-on-year in 2019 – Yemen and V...