Why Turkey profits from the ‘grain deal’ working at full speed
Recep Tayyip Erdogan and Volodymyr Zelenskyi in Lviv on August 18, 2022 (Photo:Ukrainian Presidential Press Service/Handout via REUTERS)
Turkish companies can gain additional income from the work of the UN “Grain Initiative” in the Ukrainian ports. But how exactly do they make money?
Turkish companies could be some of the key recipients of additional profit after the launch of the “Grain Initiative.” Therefore, Turkey is interested in the preservation and development of shipping in the Ukrainian segment of the Black Sea.
Andriy Klymenko from the Institute for Black Sea Strategic Studies highlighted the fact that 32% of the ships that left the port of Chornomorsk as part of the “Grain Initiative” in September belonged to shipowners from Turkey.
Sources of NV Business in the field of maritime logistics say that Turkish grain traders, who get to buy Ukrainian grain at a large discount, are also very active. They accumulate product in Constanta, Romania and then resell it in large batches on more lucrative terms.
According to official UN data, Turkey is one of the two major grain buyers that comes from Ukraine under the “Grain Initiative.”
Therefore, it’s possible that Turkey’s additional gain and President Erdogan’s political profit can be the best guarantee of increasing and expanding exports through Ukrainian seaports.
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