Page 68 - TURKRptFeb22

8.1.2 Agriculture sector news
Erdogan extended a customs tax exemption on some wheat, rye, barley, oats, maize, chickpea and lentil imports until the end of 2022.
Ankara also extended the customs tax exemption on sunflower seed oil until the end of June.
Turkey is facing a severe drought. The number of sinkholes in the Konya Plain during 2021 increased from 600 to 2,000.
The Ankara attaché of the US Department of Agriculture's Foreign Agricultural Service cut its estimate for Turkey's wheat imports for marketing year 2021-22 (June-May) to 10.8mn tonnes, down 5mn tonnes from the previous estimate. However, it added that the volume was still close to 33% higher than imports in the previous marketing year.
The reduction in wheat imports in the current marketing year was said to be likely due to an anticipated rise in barley imports and the depreciation of the Turkish lira against the USD.
Turkey is a major wheat importer and usually sources its requirements from Russia and Ukraine. It is also a wheat flour and wheat products exporter.
8.1.3 TMT sector news
Cryptocurrency trading volumes using the Turkish lira leapt to an average $1.8bn a day across three exchanges in Q4 2021.
According to Hootsuite’s latest Digital Global Overview Report 2022, 19% of internet users (16-64 age group) in Turkey own some cryptocurrency. Turkey is in fifth place in the world rankings, while Thailand is the world leader at 20%.
In the same age group, 82% of Turks use the internet (world average 63%; leader is Denmark at 99%).
The average mobile internet speed in Turkey stands at 31 megabits per second (Mbps) (world average 29; leader is UAE at 136), while, in terms of fixed line internet speeds, Turkey, reliant on Turk Telekom (TTKOM), is among the worst in the world at 26 Mbps (world average 58; leader is Singapore at 185).
A total of 81% of Turks have a social media account.
68 TURKEY Country Report February 2022 www.intellinews.com