Miller Magazine Issue: 148 April 2022

70 MILLER / APRIL 2022 NEWS es reached an all-time high due to the supply bottlenecks since the beginning of the pandemic and the Ukraine-Russia war. The war in- creased the risks that started before the pandemic and evolved into great- er uncertainties with the break out of the pandemic and spoilt the sector’s appetite for investment. Therefore, we can say that the suppliers are ex- periencing the shock of the war. On- going inflation pressure coupled with increasing geopolitical risks compli- cates pricing. For example, two sup- pliers we met at the exhibition told us that they could not quote prices to the customers who came to them to buy machinery due to the extreme volatility in the commodity market. It is worth remembering at this point that the two countries are among the significant markets for the Turkish ma- chinery industry. Russia is among the top five largest markets of the Turkish machinery industry. Last year, Turkey exported machinery worth 904 million dollars to this country, including milling technologies. And 342 million dollars of machinery was exported to Ukraine. Russia and Ukraine are also among the prominent suppliers of high-quality steel needed by the milling machinery industry. It is worried that the two coun- tries going out of the global supply net- work will upset the global balances. Turkish suppliers also alarm that the impact of rising energy and per- sonnel costs and commodity pric- es will drive the prices of machin- ery, which may adversely affect their global competitiveness.