World Grain - October 2011 - (Page 26)

COUNTRYFOCUS Key Facts Focus on Turkey Country is a major importer and exporter of grain, ranks second in flour exports by Chris Lyddon BULGARIA Turkey lies at the meeting point of Europe and Asia. Much of the recent history of its grain sector has been driven by moves to harmonize its market regulation with the E.U. Its flour milling industry is notable for its high level of exports. The International Grains Council (IGC) forecasts Turkey’s total grain production at 30 million tonnes in 2011-12, up from 27.7 million tonnes the year before. Of that total, 19 million tonnes is wheat, up from 17.5 million. The wheat total includes 3 million tonnes of durum. Maize production is forecast at 4 million tonnes, up from 3.8 million. Barley production is forecast at 6.5 million tonnes, up from 5.9 million. Turkey is a major importer and exporter of grain. According to the IGC, it will import a total of 3.4 million tonnes in 2011-12 (4.1 million in 2010-11). Exports are put at a total of 3.4 million tonnes, up from 2.4 million the year before. Wheat imports are forecast at 2.8 million tonnes (previous year 3.6 million). Wheat exports are forecast at 3 million tonnes (2.4 million), including 100,000 tonnes of durum. Maize imports are forecast at 200,000 tonnes (400,000 tonnes). Turkey is also forecast to export 300,000 tonnes of barley. The previous year’s barley exports GEORGIA were too low to be compiled by A ARMENIA the IGC. TURKEY Turkey remains a major exporter of flour, according to the CYPRUS SYRIA IGC. Its exports are forecast at LEBA LEBANON IRAQ 2.6 million tonnes in 2011-12, up from 2.4 million tonnes the year b f before. Of th li t of exporters quoted by the IGC, the list only Kazakhstan, with 3 million tonnes, exports more. TURKISH GRAIN BOARD The market is regulated by the Turkish Grain Board, founded in 1938 at a time when, as its yearbook makes clear, other countries were also coming up with institutions to manage grain markets. The board ran the market for 50 years by announcing a basic purchase price each year. From 1988 onwards, the Capital: Ankara Population: 78,785,548 (July 2011 est.). Religions: Muslim 99.8% (mostly Sunni), other 0.2% (mostly Christians and Jews). Location: Southeastern Europe and Southwestern Asia, bordering the Black Sea, between Bulgaria and Georgia, and bordering the Aegean Sea and the Mediterranean Sea, between Greece and Syria. Government: Republican parliamentary democracy. Chief of state: President Abdullah Gul (since Aug. 28, 2007); head of government: Prime Minister Recep Tayyip Erdogan (since March 14, 2003). Economy: Turkey’s economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 30% of employment. An aggressive privatization program has reduced state involvement in basic industry, banking, transport and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy. Turkey’s traditional textiles and clothing sectors still account for one-third of industrial employment, despite stiff competition in international markets that resulted from the end of the global quota system. Other sectors, notably the automotive, construction, and electronics industries, are rising in importance and have surpassed textiles within Turkey’s export mix. Oil began to flow through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market. Several gas pipelines also are being planned to help move Central Asian gas to Europe via Turkey, which will help address Turkey’s dependence on energy imports over the long term. After Turkey experienced a severe financial crisis in 2001, Ankara adopted financial and fiscal reforms as part of an IMF program. The reforms strengthened the country’s economic fundamentals and ushered in an era of strong growth — averaging more than 6% annually until 2008, when global economic conditions and tighter fiscal policy caused GDP to contract in 2009, reduced inflation to 6.3% — a 34-year low — and cut the public sector debt-to-GPD ratio below 50%. Turkey’s well-regulated financial markets and banking system weathered the global financial crisis and GDP rebounded strongly to 7.3% in 2010, as exports returned to normal levels following the recession. The economy, however, continues to be burdened by a high current account deficit and remains dependent on often volatile, short-term investment to finance its trade deficit. The stock value of FDI stood at $174 billion at year-end 2010, but inflows have slowed considerably in light of continuing economic turmoil in Europe. GDP per capita:  $12,300 (2010 est.); Inflation: 8.6% (2010 est.); Unemployment 12% (2010 est.). Currency: Turkish liras (TRY): 1.845 Turkish liras equal 1 U.S. dollar (Sept. 22, 2011). Exports: $121 billion (2010 est.): apparel, foodstuffs, textiles, metal manufactures, transport equipment. Imports: $177.3 billion (2010 est.): capital goods, foodstuffs, consumer goods. Major crops/agricultural products: Machinery, chemicals, semi-finished goods, fuels, transport equipment. Agriculture: 9.6% of GDP and 29.5% of the labor force. Internet: Code. .tr; 3.433 million (2010) hosts and 27.233 million (2009) users. Source: CIA World Factbook 26 October 2011 / World Grain /

Table of Contents for the Digital Edition of World Grain - October 2011

World Grain - October 2011
Grain’s influence on global population trends
News review
Focus on Turkey
In it for the long haul
Deregulation shapes shipping market in Australia
Port developments
News Roundup
Thai rice plan controversial
A growing force in corn
Is biotech blooming in Europe?
A battle for China
Marketing maneuvers
Biofuels News Review
A new imaging method for millers
U.S. soy crushers face challenges
IAOM Eurasia
Flour trade prospects improve
Ridding your facility of rodents
Intersystems expanding Omaha facility
OCRIM school educates millers from around the world
Perten Instruments acquires TexVol Instruments
Food Protection Alliance names Schmitz as director
SternMaid to participate in Food Ingredients Europe
Insta-Pro International names Latin American sales manager
Alltech realigns leadership team
Advertiser Index

World Grain - October 2011