Turkey is a fast-growing soybean market and an important region for the industry and international companies.
U.S. soybean exports to Turkey had stopped for about a year, but in September 2018, Turkish traders made the decision to import U.S. soybeans once again due to their high quality and attractive prices. The first shipment, 31,000 metric tons (MT) of U.S. Soy, was checked and approved by the authorities in late October 2018, and the import was finalized. This has opened the import of U.S. soybeans again and will help to increase the U.S. soybean share in the Turkish market in FY19, allowing Turkish traders to benefit from the current competitive prices of high quality U.S. Soy.
As a result of this first approval, a second shipment of 30,000 MT of U.S. Soy has already been ordered in November.