Turkey’s growing poultry sector is dependent on soybeans as a major feed ingredient. The poultry and feed industry have been investing in modern crushing facilities and are continuing to expand their capacities. While domestic poultry consumption is increasing, so are new export markets such as Iraq and other neighboring countries which will further increase the demand for soybeans and protein feed sources by Turkey’s feed industry. The U.S. continues to be one of the leading suppliers of soybeans for the Turkish market; however, regulations on biotechnology have interfered with the market periodically since October 2009. In calendar year 2016, total U.S. exports of soybeans and soybean meal were worth $200 million. For additional information on the soybean and oilseeds market, please see the Turkey Oilseeds Annual Report.
Turkey - SoybeansThis is a best prospect industry sector for this country. Includes a market overview and trade data.
ReplyDeleteLast Published: 9/26/2017
Overview
Soybeans MY (marketing year) / 1000 MT
2014
2015
2016
2017 (Estimated)
Total Local Production
135
100
100
90
Total Exports
0
118
100
75
Total Imports
2200
2284
2300
2400
Imports from the U.S.
805
402
425
450
Total Market Size
2350
2266
2300
2415
(total market size = (total local production + imports) - exports)
Escalating tensions between the United States and China have triggered a flurry of U.S. soybean purchases by European buyers, in one of the first signs that trade tariff threats lobbed between the world's top two economies are disrupting global commodity trade flows.
ReplyDeleteNews of the sales, confirmed by the U.S. Department of Agriculture on Friday, helped to underpin benchmark Chicago Board of Trade soybean prices after U.S. President Donald Trump threatened to slap tariffs on an additional $100 billion of Chinese goods.
The USDA said 458,000 tonnes of U.S. soybeans were sold to undisclosed destinations, which traders and grains analysts said included EU soybean processors such as the Netherlands and Germany...
The big U.S. soybean sales come at a time when U.S. shipments are traditionally costlier than newly harvested soybeans shipped from Brazil, the world's biggest exporter.
But accelerated buying of Brazilian beans by Chinese importers, weary of potentially paying steep tariffs on U.S. purchases, has sent Brazilian export premiums to historic highs.