Turkey Doubles U.S. Soy Consumption in 2018 YTD
USSEC is taking an important role in the growth of Turkey’s feed and animal industries and supports those industries with its activities.
As a result of last year’s activities, Turkey’s consumption of U.S. soybeans doubled in 2018 compared to 2017 year to date numbers. In 2017, Turkey’s consumption of U.S. Soy was 260,000 tons, which increased to 485,000 tons during the same period of 2018 (as of March 30). Year to date in 2018, total sales of U.S. Soy to Turkey are around $220 million USD; an approximate $100 million increase compared to 2017.
The approval results of new GMO traits will be announced in early June, which are expected to support the further increase of U.S. soybean imports to Turkey. The approval process should be shortened through the joint efforts of USSEC, the Turkish poultry industry, and Turkish soy crushers and importers.