ISTANBUL, Aug 18 (Reuters) - Turkey will adjust a tax to bring down the cost of meat production and will require vegetable and fruit suppliers to conform to standards, the government’s food committee said on Friday, in an effort to tame volatile food prices.
Turkey has been fighting to rein in inflation, which spiked to an 8-1/2 year high of 11.87 percent earlier this year. Economists have long said a drastic overhaul of the food supply chain is needed to contain food prices and keep inflation in check.
In a statement, the government’s food committee said it would adjust a customs tax on the raw materials used in animal feed to lower the cost of meet production. The supply chain for fresh fruits and vegetables would also be required to conform to standards, it said. (Reporting by Behiye Selin Taner and Can Sezer; Writing by David Dolan; Editing by Tuvan Gumrukcu)