Turkey: Oilseeds and Products Annual

Turkey’s production of major oilseeds – sunflowerseeds, cottonseeds, and soybeans – in MY 2022/23 is projected to rebound from the previous year as strong prices are expected to spur increased plantings. Notwithstanding these forecasted increases in production, Turkey is expected to continue its heavy reliance on imported oilseeds and meal. Meal and oil consumption is expected to increase year-over-year as Turkey’s economic situation stabilizes. Meanwhile, the government continues its efforts to combat inflation, such as eliminating the import duty and reducing the VAT on sunflower oil, which is an important household staple.