Friday, 16 August 2013

Turkey Agribusiness Report Q4 2013

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Turkey Agribusiness Report Q4 2013
Aug 14th 2013, 00:00

Price: $ 1295  

BMI View: We favour the sugar sector in Turkey because of the strong growth potential of the confectionery industry. We see little growth potential for the grain, dairy, livestock and rice sectors, where we believe the country's production growth will be hampered by high domestic production and input costs. In line with these views, we believe domestic confectionery companies will outperform, as they will take advantage of growing domestic sugar production capacity as well as a strong consumer story. We highlight Ulker Biskuvi Sanayi AS as an example for this. Key Forecasts ? Wheat production growth to 2016/17: -1.7% to 18.5mn tonnes. We expect the country to remain a large importer over the medium term and believe production growth will lag behind consumption growth. ...

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