Most Turkish traders temporarily stopped purchasing Ukrainian grains
According to operators of the Turkish market polled by APK-Inform experts, to date most of the Turkish operators temporarily stopped purchasing grains from Ukraine. The fear of possible logistical problems and therefore frustrating of deadlines of the concluded contracts, due to the difficult political situation in Ukraine, became the main factor influencing the reporting decision.
At the same time, the Turkish importers who already formed the required grain volumes, do not hurry to switch to purchasing of Russian grains. They do not exclude the possibility of significant increasing of the prices for Russian grains in the nearest future, due to the increased demand, which would adversely affect the domestic grain market of Turkey.
Therefore, Turkish traders note that in the case of growing of the purchasing prices for imported grains, they will also be forced to raise the selling prices on the domestic market of Turkey, which would have a negative impact on the flour milling sector.
As for the market segment of maize, in case of the situation to not stabilize until beginning of the new harvesting campaign in August-September, all interested parties may face the losses - the Black Sea and Turkish traders.
As a reminder, since the beginning of the season Ukraine exported 120.4 thsd tonnes of wheat to Turkey, which is slightly lower compared with the index in 2012/13 MY (120.6 thsd tonnes). At the same time, the shipment of Ukrainian maize in the reporting period was not realized, while during the same period last season the index totaled 42.7 thsd tonnes.
However, Russia significantly increased the volume of wheat supplies to Turkey in the current season, which totaled 2.34 mln tonnes, against 1.83 mln tonnes in the same period of 2012/13 MY. At the same time, the shipment of Russian maize to Turkey in the period of July-December of 2013/14 MY also increased to 451.4 thsd tonnes (348.95 thsd tonnes).
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