January 1999 Edition
Turkish Grain Exports Grow as TMO Moves to Reduce Huge Stockpiles
With record production and large procurements from farmers, Turkey's monopoly grain marketing agency (TMO) has been an aggressive exporter during 1998/99. However, the active sales campaign will have a large financial impact on TMO's budget caused by selling grain on world markets at prices far below acquisition costs.
Because of TMO's successful sales campaign, barley exports are projected at 1.4 million tons, a new record, surpassing 1.2 million tons the previous year. Wheat exports may reach 3.0 million tons in 1998/99, the second-highest mark after 6.1 million tons in 1991/92. Grain exports are typically destined for the Mediterranean Basin and Arab states, making Turkey a strong regional competitor against the European Union. Turkey must compete against heavily subsidized EU prices that only exacerbates the deficit between TMO's acqusition costs and export sales income.
Foreign Countries' Policies and Programs
Situation and Outlook: Commentary and Current Data
Historical Data Tables: Selected Regions and Countries
General Footnotes for Grain Tables
Grain and Feed Contact List
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