Source: Oleoscope (Russia)
Turkish wheat production is expected to amount to 18.75 million tons, which corresponds to a decline of 11%. According to the USDA (Foreign Agricultural Service) report, imports will also fall by 30% to 6.5 million tons.
As the government’s ban on wheat imports will remain in place until October and unfavorable weather conditions will affect domestic production, Turkey’s final wheat stocks will decrease by 61% in the 2024-25 marketing year compared to the previous year.
The FAS report states that if the import ban is lifted in October, flour exporters will be able to obtain the necessary raw materials on the international market.
On June 6, the Turkish Ministry of Agriculture announced the suspension of wheat imports from June 21 to mid-October to protect domestic farmers from falling prices and other negative effects during the harvest. The ministry emphasized that the ban could be extended depending on the situation.
Turkey is the world’s leading exporter of wheat flour, with a projected supply of 5.8 million tons in 2024-25. The FAS points out that the import ban will have a negative impact on flour exporters, who have expressed concerns about whether they will be able to offer competitive prices and maintain their markets if the ban is extended beyond October.
