1. TURKISH OILSEEDS &VEGOILS OUTLOOK September 09, 2014, ​ HILTON KIEV, UKRAINE BLACK SEA OIL TRADE-2014

2. STRUCTURE OF PRESENTATION 1-Turkish AgriFacts 2 – Turkish Oilseeds Outlook 3- Turkish Vegoils Outlook 4 – 2014/15 Season Projections 5- Presentation Summary

3. Turkish AgriFacts Source: www.fanack.com

4. POPULATION : 76.667.864 ( 2013 update ) TOTAL AREA : 783.562 km 2 AGRICULTURAL AREA : 238.110 km 2 ( 30% ) ( 23.811 Thd Ha ) AGRICULTURAL EMPLOYMENT RATE : 25% MAIN CROPS: Wheat ( 15-20 Mln T ), Sugar Beet ( 15-17 Mln T ), Barley ( 4–7 Mln T ), Corn ( 4-5 Mln T ), Cotton ( 2-3 Mln T ), Sunflower ( 1-1.5 Mln T ) and Paddy Rice ( 750 – 1.000 kmt ) etc.

5. TURKISH OILSEEDS OUTLOOK

6. TURKISH OILSEEDS PRODUCTION( 1000 TONS )

7. IN 2013/14 SEASON; TURKEY RAISED APPROX. 2.7 MLN T OF OILSEEDS. SUNFLOWERSEED WAS THE BIGGEST RAISED OILSEED WITH 55% SHARE.

8. TURKISH OILSEEDS CRUSHINGS ( 1000 TONS )

9. IN 2013/14 SEASON; TURKEY CRUSHED APPROX. 3.85 MLN T OF OILSEEDS. SUNFLOWERSEED WAS THE BIGGEST CRUSHED OILSEED WITH 55% SHARE.

10. TURKEY HAS AROUND 8.0 MLN T OF CRUSHING CAPACITY BUT ONLY HALF-CAPACITY USAGE

11. TURKISH OILSEEDS IMPORTS ( 1000 TONS )

12. IN 2013 CALENDAR YEAR; TURKEY IMPORTED APPROX. 2.07 MLN T OF OILSEEDS. AND PAID AROUND 1.27 MILLIARD USD SOYBEANS WAS THE BIGGEST OILSEED WITH 52% SHARE.

13. IN 2013 CALENDAR YEAR; MAJOR 3 ORIGINS AS PER OILSEEDS ; SOYBEAN; USA, Paraguay, Ukraine SUNSEED; Bulgaria, Moldova, Romania RAPESEED; Bulgaria, Russia, Ukraine COTTONSEED; Greece LINSEED/CAMELINA ; Russia, Ukraine, Kazakhstan

14. IN 2013 CALENDAR YEAR; TURKEY EXPORTED ALMOST NIL OF OILSEEDS EXCEPT SOME HYBRID SALES AND INSIGNIFICANT NEIGHBOOR PARTIES.

15. TURKISH VEGOILS OUTLOOK

16. TURKISH VEGOILS PRODUCTION ( 1000 TONS )

17. IN 2013/14 SEASON; TURKEY PRODUCED APPROX. 1.49 MLN T OF VEGOILS. SUNOIL WAS THE MOST PRODUCED VEGOIL WITH 60% SHARE.

18. TURKISH LIQUID VEGOILS CONSUMPTION ( 1000 TONS )

19. IN 2013/14 SEASON; TURKEY CONSUMED APPROX. 1.22 MLN T OF LIQUID VEGOILS. SUNFLOWER OIL WAS THE MOST CONSUMED VEGOIL WITH OVER 75% SHARE.

20. TURKISH VEGOILS IMPORTS ( 1000 TONS )

21. IN 2013 CALENDAR YEAR; TURKEY IMPORTED APPROX. 1.39 MLN T OF VEGOILS. AND PAID AROUND 1.6 MILLIARD USD SUNOIL WAS THE BIGGEST IMPORTED VEGOIL WITH 45% SHARE.

22. IN 2013 CALENDAR YEAR; MAJOR 3 ORIGINS AS PER VEGOILS ; SUNOIL; Russia, Ukraine, Bosnia-Herseq PALMOIL; Indonesia, Malaysia PALMKERNEL OIL; Indonesia, Malaysia CORNOIL; USA, Spain, France SOYOIL ; Ukraine, Romania, USA

23. TURKISH VEGOILS EXPORTS ( 1000 TONS )

24. IN 2013 CALENDAR YEAR; TURKEY EXPORTED APPROX. 710 KMT OF VEGOILS. AND GOT AROUND 1.18 MILLIARD USD SUNOIL WAS THE BIGGEST EXPORTED VEGOIL WITH 80% SHARE.

25. IN 2013 CALENDAR YEAR; MAJOR 3 DESTINATIONS AS PER VEGOILS ; SUNOIL; Iraq, Syria, Lebanon CORNOIL; Libya, Israel, Iran SOYOIL ; Turkish Cyprus, Iraq, Sudan OLIVEOIL; USA, Spain, Italy

26. MARGARINE IN 2013; TURKEY PRODUCED AROUND 725 KMT, TURKEY CONSUMED AROUND 570 KMT ( 415 KMT INDUSTRIAL, 115 KMT BREAKFAST, 40 KMT GHEE-TYPE ) TURKEY EXPORTED AROUND 155 KMT Source: MUMSAD

27. TURKEY HAS AROUND 4.0 MLN T OF REFINING CAPACITY AND 1.0 MLN T OF MARGARINE CAPACITY

28. IMPORT DUTY RATES FOR MAJOR OILSEEDS/VEGOILS; Sunseed, 27%, but not less than 216 $/mt ( 800 $/mt reference price x 0.27 ) Soybean, 0%, Rapeseed, 10%, Crude Sunoil, 36%, but not less than 540 $/mt ( 1.500 $/mt reference price x 0.36 ) Refined Sunoil, 50%, but not less than 1.000 $/mt ( 2.000 $/mt reference price x 0.36 ) Other Vegoils, 31.2%

29. 2014/15 SEASON PROJECTIONS FOR SUNSEED AND SUNOIL

30. TURKEY WILL RAISE 1.250 KMT OF SUNSEED NEW-CROP SIZE VS RECORD 1.500 KMT OF 2013/14 IN SPITE OF QUITE IDEAL SUMMER WEATHER CONDITIONS. MAIN REASON OF CROP REDUCTION WAS BEING LESS LUCRATIVE VS GRAINS, SO ACREAGE LOWERED TO 530 KHA VS 690 KHA IN 2013/14 SEASON.

31. TURKISH LOCAL SUNOIL CONSUMPTION WILL INCREASE TO AT LEAST 1.000 KMT VS 975 KMT ( 950 EDIBLE + 25 TECHNICAL ) OF 2013/14 WITH INCREASING POPULATION, MORE TOURISTS ( AROUND 35 MLN IN 2013 ) AND SOME SHIFTS FROM OTHER VEGOILS.

32. TURKISH SUNOIL EXPORTS WILL GET LOWER TO AROUND 600 KMT VS 685 KMT ( 460 IRAQ + 225 OTHERS ) OF 2013/14 WITH GEOPOLITICAL CONFLICTS IN IRAQ AND SYRIA AND SO LESS INTERNATIONAL TENDERS BY IRAQ GOVERNMENT.

33. FINAL BALANCE Turkish Local Sunoil Consumption 1.000 kmt Turkish Sunoil Exports 600 kmt Total Sunoil Demand 1.600 kmt Local Sunoil Production ( 1.250 kmt x 0.42 ) 525 kmt Shortage 1.075 kmt Such shortage will be met by Sunseed and Sunoil imports.

34. TURKISH SUNSEED IMPORTS WILL BE AROUND 900 KMT VS 600 KMT OF 2013/14, MAINLY FROM MOLDOVA AND PARTLY FROM BULGARIA, ROMANIA, UKRAINE AND RUSSIA.

35. TURKISH SUNOIL IMPORTS WILL BE AROUND 700 KMT VS 795 KMT OF 2013/14, MAINLY FROM RUSSIA AND PARTLY FROM UKRAINE AND BOSNIA ( 0% IMPORT-DUTY )

36. PRESENTATION SUMMARY

37. Turkish Agricultural Employment Rate is around 25%. Sunflower is the most important oilseed of Turkey. Turkey is net importer for oilseeds and vegoils, so paid 2.87 Milliard USD totally ( even 3.68 Milliard USD including Oilmeals ) in 2013 calendar year. Turkey will raise 1.25 Mln T ( vs record 1.5 Mln T in 2013/14 ) of Sunseed new-crop size in 2014/15 season. Turkey will import 900 kmt ( vs 600 kmt in 2013/14 ) of Sunseed in 2014/15 season. Turkey will import 700 kmt ( vs record 795 kmt in 2013/14 ) of SunOil in 2014/15 season. Turkey will export 600 kmt ( vs record 685 kmt in 2013/14 ) of SunOil in 2014/15 season.

38. Great thanks