Soybean imports by Turkey up 28% on the year

06.07.2018

Turkey purchased 1600 KMT of soybeans from abroad in September-April 2017/18, i.e. 28% more than in the same time last season, reports UkrAgroConsult.

The top suppliers included Ukraine (520 KMT), the USA (410 KMT), and Brazil (273 KMT). Strengthening demand from the poultry sector is pushing soybean imports up. In addition, their increase is driven by this season’s high margin of soybean crushing. Soybean consumption in the country will gain 9% for this season.

Own soybean production in Turkey has been remaining at 80-100 KMT over the last few seasons.

According to FAS USDA estimates, 2017/18 soybean imports by Turkey will total 2350 KMT, up 3.5% from the 2016/17 season. Their further growth is curbed by devaluation of the Turkish lira in April and May. A more significant rise in soybean imports is expected in the new season, by 6% to 2500 KMT.

More detailed information on the latest trends in oilseeds/vegoils/meals exports, supply and demand balances with breakdown by crop as well as crop conditions and progress in harvesting in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" by UkrAgroConsult.

Further prospects of the Black Sea oilseeds/vegoils market will be discussed at the VI International Conference “Black Sea Oil Trade”, which will take place on September 20, 2018 in Hilton hotel, Kiev, Ukraine. Organizer – UkrAgroConsult company.

In 2017 International Conference «Black Sea Oil Trade» attracted 250 delegates from 25 countries and 150 companies. Conference participants are usually represented by producers and crushers of oilseeds, traders, enterprises for deep processing of vegetable oils, investment companies, banks, law, shipping, brokerage, insurance and surveyor companies.

 

UkrAgroConsult

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