Russia-Ukraine war has had a huge effect on global agro-commodity market. While the effect of war is clearly visible on global wheat market in particular, it has disrupted the whole agro-commodities market in general. Russia and Ukraine which jointly contribute to 30% of the total wheat production in the world has stopped exporting any of it in the aftermath of the war thereby leading to rise in prices and leading to food crisis. Now, many countries are resorting to ban food export. Wheat is one of the many commodities whose export has been banned by countries. Lately, India has also banned wheat exports and have also restricted export of wheat flour. This was a reaction to rise in prices of wheat in the global market including the Indian market in guise of food security.
Turkey is a major importer of agricultural commodities in the whole world. Turkey has been divided into 7 regions; West, North-Central, North-East, South-Central, Mediterranean, Marmara, and Aegean region. The resources under Agriculture in Turkey include Wine, Wheat, Corn, Sunflower seeds, Buckwheat, and many more. Below are the figures for total import and export of agriculture in the Turkish market along with usage of resources in the Turkish market.
A commodity is a class of assets or items essential in daily life, such as food grains, meat, edible oil, fruits & vegetables, energy, metals, gold, and natural gas are examples of commodities.
A spice is a bark, root, flavoring agent, seed, fruit, and other plant products that enhance the aroma and taste of the food. India is often called ‘The Land of Spices.’ The history of spices dates back to the Indus Valley civilization 4000 years ago. Spices were among the few grounds for outsiders to conquer India. Most spices in India are used in powder or seed form. Some popular spice yields in India are Turmeric, Cardamom, White Pepper, Black Pepper, Clove, and Cumin. Spices from India are still in high demand in the international market. Punjab, Kerala, Gujarat, and some north-eastern states of India are the most popular for the cultivation of spices. Top Importers of spices are the USA, Hong Kong, Vietnam, China, UK, Bangladesh, Thailand, Malaysia, Sri-Lanka, and UAE. In the fiscal year 2019, the export values of spice sum up to 231 million Rupees. The annual turnover of spice in India increases by 40,000 crores. The expansion of the spice business is a 7% gain in volume, 8% gain in currency.
The method of agricultural production that includes a high level of biodiversity with Environmental preservation practices coupled with animal welfare is called Organic Farming. Organic products (Pulses) are always in demand due to sustainable development and fertilizer-free products.
Basmati Rice is one of the most demanded ingredients in the world. It is an indispensable staple diet. As India is the world’s largest producer of quality basmati and non-basmati rice, a huge amount of rice is exported to the world annually. A large portion of the rice export by India contributes to the world economy. The delicacy and aroma of Basmati rice hypnotize people, thus adding more rice-loving people to its forte. It has an average length of 7.5mm to 8.8mm with a potential to expand twice its kernel size after cooking.
IR 64 Parboiled Rice is renowned in the global market for its high yields. The rice has been grown and introduced by the International Rice Research Institute of the Philippines. It is an indispensable staple diet ranging from Gulf Biryani to Awadhi Tehri(Indian Fried Rice).
The Electronic Method is very popular in the B2B marketplace. Some of the numerous benefits of using the procurement are as follows:
Reduced costs of paperwork:
The paper-based system work is now considered a traditional method of work. In present days, online procurement help to reduce the cost of paper as well as the cost of stamps which are always used to mail the paper-based work to the destination.