Turkey’s Wheat Export Target for 2023 Is USD 5B Based on a 17% YoY Production Increase
Barley
Alper Akkurt
Published Jan 12, 2023
Turkey produced 17MMT of wheat in 2022. In 2023, wheat production is expected to reach 20MMT, an increase of 17% YoY. Corn production is estimated to reach 7MMT, a 3.7% YoY increase. Regarding barley, 8.1MMT of production is estimated, representing an increase of 1.25% YoY. Turkey aims to transfer the foreign trade surplus in wheat to 2023 and export USD 5B of wheat products.
On the other hand, within the scope of the inward processing regime, a certain amount of wheat is imported every year to process and export as a finished product. Turkey, which imported 6.5MMT of wheat in the ten months of 2021, imported 6.8MMT in the same period of 2022. Although there were no import duties on wheat until December 31, wheat imports did not rise significantly. Prices established in the domestic market by the Turkish Grain Board (TMO) rendered foreign wheat imports unprofitable.
In order to provide access to grain products at more affordable prices, about 2,250MMT of grains were imported into Turkey between July 22, the start of the grain corridor agreement, and December 25, 2022. Therefore, it became possible to maintain and increase the record level of Turkey's exports of grain-based products.
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