Financing Import/Export

The Turkey Beef Cattle Market situation

 

Turkey's plan to achieve self-sufficiency on red meat is far from being completed. Despite the fact that the government allowed imports of cattle and meat worth $1.3 billion to respond to a increased demand, the prices for domestic products are still rising at a pace of 20% for the live animals

A statistical report released by the Turkish Statistical Institute revealed that the domestic cattle prices rose by 20.4% in 2017 and the price of domestic sheep increased by 21.2% in the same period, while the price for angora goats jumped by 20.5%.

 

 

The price for a kilogram of beef meat rose from $9.73 to $9.93 during the last year. Since July 2017, the Milk and Meat Board was granted to import 500,000 heads of cattle, 475,000 heads of sheep and goat, 75,000 MT fresh or chilled beef and 20,000 MT frozen quarter carcass. This decision is valid until the end of 2018 for cattle, sheep, goat and beef imports, while permission for carcass meat imports was valid until the end of last year.

 

In November, the same authority signed a deal to sell cheaper red meat to two supermarket chains in a bid to ease rising meat prices in Turkey.