Turkey Halts Exports of Oilseeds and Corn

Turkey Halts Exports of Oilseeds and Corn

 

The organic soybean meal import market could face headwinds. Organic soybean meal prices remain steady on the East Coast and the West Coast. Prices are offered near $1,600 per short ton on both coasts. While some Chinese organic soybean meal is expected to be sold on the West Coast in March, the East Coast will not have that luxury.

Prices could be on the rise now as Turkey announced last week that they were halting exports of any oilseed products, even from the Free Trade Zone. The new measures target supply on bonded warehouses in the free zones according to the industry trade bond Gafta.

This measure could be an issue for feed mills in the United States. According to the U.S. Commerce Department data, about 46K metric tons of organic soybean meal were imported into the United States from Turkey in 2021. It’s unclear how long this situation will last, but since Ukraine has stopped exporting, its neighbors who received oilseeds from…

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