Turkey’s food sector dominated by flour, pasta industries – ISO 500 report
The 2024 ISO 500 report indicates that companies producing flour, pasta, biscuits, and starch are vital for meeting domestic demand for staple foods and supporting export activities.
TURKEY – The Istanbul Chamber of Industry (ISO) has released the 2024 results of its annual survey, “Turkey’s Top 500 Industrial Enterprises.”
The report, presented to the public by ISO Chairman Erdal Bahçıvan, provides a comprehensive overview of the performance of the Turkish industry in 2024.
It highlights the effects of global economic challenges and Turkey’s disinflationary policies on the industrial landscape, focusing particularly on the strong performance of companies in the flour, pasta, and starch sectors of the food industry.
In the 2024 ISO 500 list, the food sector was well-represented, especially by firms producing flour, pasta, and starch.
These companies earned significant placements due to their production output, sales figures, and economic contributions.
The essential nature of food products has allowed these companies to consistently maintain their positions on the list, with several even climbing in the rankings.
According to the report, firms in the flour, pasta, biscuit, starch, and yeast industries play a crucial role in both the domestic market and exports.
However, they face significant challenges due to high financial costs and the impact of inflation on their balance sheets.
ISO Chairman Bahçıvan emphasized that a substantial portion of industrial companies’ profits must be allocated to financing expenses.
Despite these challenges, many firms in the food sector have managed to maintain their operational profitability.
However, the report notes that high financing costs and a slowdown in global demand are negatively affecting the profit margins of these firms.
Nevertheless, the rise of some companies in the rankings highlights the sector’s resilience and adaptability.
The ISO 500 is a survey of the largest industrial enterprises in Turkey and follows the International Organisation for Standardisation (ISO) standards.
The survey began in 1968 with 100 enterprises and has recently expanded to include 1,000 enterprises.
The Istanbul Chamber of Industry (ISO) conducts this survey annually to track the performance of the top 500 industrial enterprises in Turkey.
It includes data on production, sales, and other key performance indicators for these companies, providing valuable insights into the health and development of the Turkish industrial sector.
This survey is utilized by economists, academics, and the business community as a reference and analysis tool.
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