Turkey planning to import wheat to stabilize prices

Turkey is preparing to make its first wheat imports since 1976 to try to regulate prices in the domestic market, which is dominated by private dealers, government officials report. A Turkish delegation visited the US to discuss prices and make bids.

The amount Turkey will decide to import will depend on the cost, but one official said it is likely to be more than 500,000 tons. According to Western diplomatic estimates, Turkey's wheat harvest this year will be good, reaching more than 14 million tons. This is several hundred thousand tons higher than last year and enough to meet the country's own demands, but officials want the extra wheat to hel p regulate prices.