Full implementation of a new law related to biotechnology in Turkey could spell the end of U.S. soy exports to the country. That's a market for U.S. soy valued at $370 million by the U.S. Soybean Export Council. The law governs the import of crops improved through the use of biotechnology.
According to the United Soybean Board Turkey's Ministry of Agriculture has informed USDA's Foreign Ag Service that current biotech approvals wouldn't be grandfathered in and companies selling biotech soybean seed will need to resubmit paperwork for review by a new Turkish Biosafety Board. The board won't even be formed until at least a month after current import approvals expire and USB says getting new approvals could take months, thereby disrupting U.S. soy exports to Turkey.
USB notes U.S. soybeans, soybean meal and soybean oil from soybeans grown using biotech seed could be banned from Turkey. Further, new labeling requirements for food containing soy from biotech-enhanced soybeans could reduce the use of U.S. soy in food products sold in the country.
According to USB this situation in Turkey is an example of the serious market access challenges U.S. soybean farmers and the rest of the U.S. soy industry face around the globe.
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