Turkey set to maintain position as leading global flour exporter
Turkey is gearing up for its 11th consecutive season as the world's largest flour exporter, according to Eren Günhan Ulusoy, the Eurasia President of the International Association of Operative Millers (IAOM).
Despite a slight decline in export volume this year, Turkey is expected to retain its title, with projections indicating an export of around 2.5 million tons of flour for the current season. This is a slight drop from last year's 3 million tons, but still a significant figure in the global market.
The current year has seen Turkey experiencing a very hot summer, which has been a concern for farmers and millers alike. However, Ulusoy suggests a more cautious approach for the medium term due to potential production disruptions caused by extreme weather events globally. He also underlines that the effects of climate change are being felt in the medium term in Turkey.
Last season, Turkey faced a similar challenge with low rainfall, but managed to maintain its position as the world's largest flour exporter. This was a testament to the resilience of the Turkish agricultural sector and the adaptability of its milling industry.
In the global market, Turkey is currently in competition with Russia for the lead in the World Cup of grain exporters. While Russia is making a strong push, Turkey is expected to retain its title, with the gap between the two countries' flour exports narrowing from time to time. Kazakhstan, which ranks second, is also a contender, but the exact position of Kazakhstan in the flour export market was not specified in the current analysis.
The Russia-Ukraine peace talks and related expectations are also having an impact on the global grain market. However, in projections, no significant shock in grain supply is expected next season. This is good news for Turkey, as well as for other countries that rely on its flour exports.
Price indices have fallen back to the levels seen in October and November 2020, providing some relief to consumers and businesses alike. This is a positive sign for the global economy, which has been struggling with inflationary pressures in recent months.
In conclusion, while there are challenges ahead, Turkey remains optimistic about its position in the global flour market. With a resilient agricultural sector, a strong milling industry, and a strategic location, Turkey is well-positioned to continue its leadership role in the world's flour exports.
