In March 2017, Turkey significantly increased the imports of Ukrainian wheat

In March 2017, Turkey significantly increased the imports of Ukrainian wheat

In March 2017, Turkey significantly increased the imports of Ukrainian wheat

The FINANCIAL -- In July-March of 2016/17 MY, Ukraine exported nearly 73.4 thsd tonnes of wheat to Turkey, including 63% of the reporting volumes (or 46.4 thsd tonnes) supplied in March 2017.

Generally, during nine months of the current season Ukraine reduced the supplies of wheat to Turkey by 31% compared with the same period of 2015/16 MY, and down 67% in 2014/15 MY, according to APK-Inform.

It is worth noting that in 2014/15 MY Ukraine realized stable monthly supplies of wheat to Turkey, but in the current and last seasons the exports demonstrated rather uneven features. At the same time, the maximum monthly export volumes developed in September of 2015/16 MY, and totaled 81.1 thsd tonnes, or 72% of all grain supplies to the reporting country per season.

Also, it should be taken into account the current reduction of Russian wheat supplies to Turkey, because Russia is a key supplier of the grain on the market. Russia reached the maximum volume of supplies in 2014/15 MY at the level of more than 4.2 mln tonnes, or 71% of the general wheat imports to Turkey in the reporting season. But in 2015/16 MY, the supplies of Russian wheat decreased by 26% to 3.1 mln tonnes, which also formed 71% of the general purchases of the grain by Turkey. In July-March of the current season, Russia exported nearly 2.3 mln tonnes of wheat to Turkey, down 19% compared with the same period last season.

It should be noted that Russia realized wheat supplies to turkey on monthly basis. At the same time, in March 2017 Russia significantly increased the export volumes (despite imposition of the limitations in mid-March), which reached 322 thsd tonnes, up 58% compared with the same month last season.