September 20, 2011

Turkey's 2011-12 grain exports to surge 40%

A near-record crop and a reduction of imports to their lowest level in five years will cause Turkey's 2011-12 grain exports to leap 40%, according to the UN food body.

According to Dow Jones, the Food and Agriculture Organisation (FAO) predicted the country will harvest 35.2 million tonnes, up 7.5% compared with 2010 and 10% above the five-year average.

The rise in output has been led by wheat, the production of which is expected to rise 11% to 21.8 million tonnes, followed by a 5% rise in barley output to 7.6 million tonnes. The corn crop, however, is expected to dip 5% to 4.2 million tonnes.

"Harvesting of 2011 winter cereals is almost complete and early estimates indicate a near-record production," the FAO said.

Exports are expected to jump 40% above the average to 3.9 million tonnes as a result while imports, normally of high-quality wheat, may slump to as little as 3.1 million tonnes, the lowest level since the 2006-07 marketing year, the FAO said.