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6.1.4 Agriculture sector news
Turkey’s soybean oil production in the 2020-21 marketing year is forecast to be 322,000 tonnes, up from 286,000 tonnes in 2019-20.
The Global Agricultural Information Network of the US Department of Agriculture’s (USDA) soybean oil forecast production for the 2021-22 marketing year remained unchanged at 322,000 tonnes.
Turkey’s domestic soybean consumption is tied to the usage of it in the feed industries, particularly in the poultry sector. Total domestic soybean consumption is anticipated at 3.25mn tonnes in the 2021-22 marketing year, according to the USDA.
Soybean imports for the 2021-2022 marketing year are projected at 3.2mn tonnes, dependent on demand from the feed sector and crush activity for oil exports.
6.1.5 Tourism sector news
The Turkish Travel Agencies’ Association (TURSAB), the largest umbrella organisation in Turkey's travel and tourism sector, targets Turkey’s tourism revenues to hit around $20bn in 2021, with the country hosting approximately 20mn international holidaymakers.
Turkey hosted only 15mn foreign tourists in 2020, down from 45mn visitors in 2019. Year on year, the country’s revenues from tourism activities plunged by around $22bn to a total of around $10bn.
Turkish Airlines carried only 28mn passengers in 2020, down 62% y/y. The domestic traveller tally slumped 55% to 14mn while the international passenger total plummeted 68% to 14mn.
January saw it suffer a 65% y/y drop in total passenger traffic. Less than 1mn domestic passengers used the airline in the month, while the decline in international traffic was a steep 69% y/y to 1.06mn passengers.
Revenues of the carrier plunged to $4.96bn in the first nine months of 2020 from nearly $10bn in the same period of 2019. The net loss for the first three quarters of last year was $786mn. That compared to a net income of $452mn for January-September 2019.
35 TURKEY Country Report April 2021 www.intellinews.com