Turkey is active buyer of soybean due to higher internal demand. The country increases the processing of the oilseed, declared Pelin Ozer, Owner & Managing Partner at MPM GIDA San.ve Tic.Ltd.Sti on August 26 within Soybean and Meal market conference.
“In 2020, Turkey production of soybean remained stable in Turkey at 125 thsd tonnes. Its share in the overall oilseed production was 4.7%. At the same time, the demand for import soybean is very high in Turkey. The country imported 2.9 mln tonnes of soybean in 2020, or 65% of the general oilseed import. Brazil was the largest supplier of soybean to Turkey in 2020 (2.13 mln tonnes or 73%). The import from Ukraine totaled 587 thsd tonnes or 20%. Ukraine was the second largest supplier”, - the expert said.
Higher import of Ukrainian and Brazilian soybean was based on a ban of import of US oilseed imposed in 2018 after finding of prohibited GM varieties. However, in January 2021, Turkish government allowed these US varieties to be imported to Turkey. Therefore, the country will increase import of US soybean.
“So, what is the future of Ukrainian soybean import to Turkey? The demand may remain quite high due to price attractiveness of Ukrainian product as well as logistical advantages and quality”, - she noted.
In 2020/21 MY, Turkey will import about 3 mln tonnes of soybean. The supplies of Ukrainian oilseed cam decline on strong competition from the US.