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İşbank report: Turkish feed industry is increasingly dependent on imports

12 November 20182 min reading

İşbank has published a report that is closely related to the livestock and feed sector. The report emphasized that the feed sector's dependence on imports increased because of the increase in costs due to the changes in exchange rate.

işbank

The report titled "Cattle Husbandry Sector" published by İşbank included evaluations on the state of the sector. The 30-page report stated that imports fell short of reducing meat prices because of the increase in the exchange rate and the production model progressing with imports was in trouble and it was difficult to see the future due to exchange rate fluctuation. The report also stated that the majority of the sector did not take necessary measures against currency risk. Cattle feed, which accounts for about 70 percent of producers' costs, is one of the most important concerns for producers. Fodder prices increased by more than 70 percent due to exchange rate changes. In the report, this increase was interpreted as a situation which increased the feed raw material import costs for the industrialists and as a result increased the dependency of the sector to import. The subject was mentioned in the report with the following words: "The number of imported intermediate goods used in the manufacture of feed is more than 50 in Turkey. The main import products of the feed industry are products such as soybean, corn and drink industry. In 2016, 1 billion 966 million dollars were paid for the imports of intermediate goods; in 2017 this figure increased to 2 billion 560 million dollars. In recent years, feed import has accelerated and the feed industry has become increasingly dependent on imports."

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