Turkey's Yilmaz on factors influencing food costs

Both supply and demand factors have contributed to the recent surge in food prices, said Durmus Yilmaz, the governor of the Central Bank of Turkey.

"On the supply side the amount of resources allocated for agricultural production has been stagnant for a while due to rapid urbanisation and industrialisation. A shift in the labour force from agricultural to non-agricultural sectors has been experienced in many developing countries. Rapid productivity gains observed throughout the post-war period

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