Turkey continues reducing sunseed imports

17.01.2018

In Turkey, the current marketing year features a bumper sunseed crop of 1.6 MMT. UkrAgroConsult has already addressed the topic of 2017/18 forecasts for this country and its prospective trading relations with Ukraine and Russia.

After the first three months of the current season, we’ll assess below to what degree the expectation of a decrease in Turkey’s dependence on imported sunseed and sunoil has been fulfilled by now.

It is worth noting that sunseed purchases by Turkey have always fluctuated not only from season to season, but also from month to months within the marketing year. They are closely related with the sunseed crop harvested in the country. As a rule, oilseed imports drop in more favorable years.

The general 2017/18 trends in Turkey’s sunseed complex market in the first three months appreciably affect the trade with Ukraine and Russia. So, sunseed and sunflower oil imports from Ukraine fell significantly.

At the same time, with regard to sunmeal purchases in the first three months of the current season, Turkey can be said to have partially switched from Russian product to Ukrainian one. At the same time, the sunmeal volume purchased from Ukraine (up 39.1 KMT year-on-year) even exceeds the decline in imports from Russia (down 32.8 KMT year-on-year).

Full version of the article is available to subscribers for weekly market report “Black Sea Vegoils” and “Online market review” by UkrAgroConsult.

 

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