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Dashboard that demonstrates the scope of Black Sea grain and oilseed trade. Millions of tons of grain are shipped through these international waters each year, making the Black Sea region a major supplier of agricultural commodities worldwide.
Starting on May 1, Turkey’s import duties on wheat, barley, corn, and other grains will go from zero to 130 percent.
The 2022 U.S. Agricultural Export Yearbook provides a statistical summary of U.S. agricultural commodity exports to the world during the 2022 calendar year.
The wheat and barley harvest is continuing in Turkey, approximately two weeks behind the normal harvest schedule this year. Wheat production is forecast at 17.25 Million Metric Tons (MMT), and barley production is forecast at 7.4 MMT in Marketing Year (MY) 2022/23. The first corn crop planting finished with total corn production forecast at 6.2 MMT.
Since February 2022, Turkey has applied an export ban to more than a dozen agricultural products, including vegetable oils, meat, pulses, and some dairy products. On June 26th, the ban on butter exports was replaced with a monthly quota, and on July 7th, the ban on olive oil exports was removed.
Turkey has a young population of 85 million people. The country is in a Customs Union with the EU, has free trade agreements with EFTA and 22 other countries (excluding the U.S.), and is the 23rd largest economy in the world. The International Monetary Fund (IMF) forecasts Turkey’s annual Gross Domestic Product (GDP) growth at 3.2 percent between 2022 and 2026.