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THE TURKISH DAIRY INDUSTRY HASAN GİRENES – Yaşar Group, Turkey. Turkey – Netherlands Business Forum 17 April 2012, Amsterdam. DAIRY FARMING in TURKEY. Investing in Turkey. “Turkey will be one of the best countries to invest in over the next three years” - PowerPoint PPT Presentation
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Turkey – Netherlands Business Forum17 April 2012, Amsterdam
THE TURKISH DAIRY INDUSTRYHASAN GİRENES – Yaşar Group, Turkey
DAIRY FARMING in TURKEY
Investing in Turkey...
“Turkey will be one of the best countries to invest in over the next three years”
“If I was an investor with a huge sum of money with me, I would definitely invest half of my money in one of the emerging economies. For example, investing in a farm in Turkey, I would personally not even think for a minute.”
Marc Faber – Investment Guru, December 16, 2010
Dairy Farming in Turkey
• Blessed with one of the very best climates for dairy farming
• Many large-scale dairy farms established or rapidly increased in scale
• Many of state-owned farms being privatized• Joint ventures and foreign investors• Seasonal milk production: rises from
January, decreases from June• Demand following an opposite trend to
production• Production-demand imbalance: price
instability
WDS Report-2011
Dairy Population
• Number of bovine animals: 11,4 million heads
• Number of dairy cows : 4,2 million heads
• Av. milk yield/year : 2.803 kg/cow – Breeders Ass. Members : 6.000 kg/cow – Modern farms : 10.000 – 12.000 kg/cow
• Number of animals recorded in pedigree: • 2002: 178.000 heads• 2011: 2.682.000 heads
• Number of sheep & goats: 29,4 million heads
Milk Production - 2011 (tons/year )Total Milk Production13.6 million tons/year
COW MILK
12.480.416 - 91,7%SHEEP MILK
816.832 - 6,0%GOAT MILK
272.811 - 2,0%BUFFALOES MILK
35.487 - 0,26%
Consumed in Farm2.745.691 - 22%
Animal Feeding & Loose Milk2.496.083 - 20%
Modern dairy establishments3.244.908- 27%
Mandıras3.993.733 - 32%
22%
20%27%
32%
consumed in farmanimal feeding&loose milkmodern dairy estab.mandıras
Source: National Milk Council
The most dynamic countries are expected to be China (3,5%), TURKEY (3%) and Argentina (3%) in the next decade...
Comparison: Turkey / The Netherlands (2010)
• Milk production volumes are similar• Cow herd in TR is 2,5 times the size compared to ND; differences in
average yield due to:– Fragmented production base– Cow genetics– Feeding patterns– Varying management systems
WDS Report-2011
DAIRY MARKET in TURKEY
Dairy Processing
• One of the world’s major milk processing countries
• Rapid growth in capacity, technological infrastructure and number of modern dairy plants
• Amount of milk collected by integrated dairy facilities in 2011: 7 mln tons– 1,2 mln tons processed to drinking milk– 519.000 tons to cheese– 1 mln tons to yoghurt– 459.000 tons to yoghurt drink
2007 2008 2009 2010 2011850,000
900,000
950,000
1,000,000
1,050,000
1,100,000
1,150,000
1,200,000
987,526
1,045,119
1,097,309 1,090,605
1,164,748
Drinking Milk Production (tons)
2007 2008 2009 2010 20110
100,000
200,000
300,000
400,000
500,000
600,000
233,484260,399 271,704
473,491518,850
Cheese Production (tons)
Source: National Milk Council
2007 2008 2009 2010 20110
200,000
400,000
600,000
800,000
1,000,000
1,200,000
723,571 758,571 777,134
908,2691,006,791
Yoghurt Production (tons)
Source: National Milk Council2007 2008 2009 2010 2011
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
241,167265,268 283,195
397,935
459,075
Yoghurt Drink Production (tons)
WDS Report-2011
• Milk is consumed mainly as white cheese, yoghurt drink and yoghurt • 26 grams/capita/day of animal protein consumption: 51% from dairy
products• Drinking milk consumption is low: 26 lt/year• Pastorised milk constitutes of 10% of processed milk• Demand for UHT milk and low fat milk is rising• 75 % of the milk consumed by children• Ready-to-drink flavored milk consumption growing with an annual av. of 20
%
Dairy Consumption
THE ROADMAP for TURKISH DAIRY INDUSTRY
Strenghts & Opportunities
One of the largest markets in the region with a young population of 70mn Rising incomes and changing consumer habits fuel domestic consumption Favorable ecological conditions and climate; one of the world's strongest
livestock sectors Government made development of the sector a priority, ensuring
continued levels of investment Food industry is better developed than many neighbouring countries,
creating strong export opportunities Good location for trading with EU and Middle East countries Benefits from a large pool of cheap labour
Challenges and Critical Success Factors for Turkish Dairy Industry
• Boosting supply for growing population combined with economic development: availability of sufficient milk
• Fragmented production base• Land ownership and regulations• Feed price and water resources/availability• Logistics• Availability of cows/heifers• Quality issues (raw milk&processing)• Animal diseases• Stronger cooperation in the chain
YASAR GROUP
• Initiation of today’s YAŞAR dates back to 1945
• One of leading and most respected consumer products group in Turkey• 22 companies, 2 foundations, 18 facilities, 6,500 employees• Consolidated Revenue of TRY 2.03 bn in FY10• Food &beverage net sales 1,5 bn TL
• Core businesses “Food & Beverages” and “Coatings”
• Well established and widely recognised leading brands: PINAR and DYO
• Six companies listed on the Istanbul Stock Exchange with a combined market cap of TRY 1.5 bn**
• Joined the UN Global Compact, world’s largest corporate citizenship initiative, in 2007
Profile
*EBITDA is operating profit before depreciation and amortisation expenses, and other non-cash/non-recurring income and expense items** as at 31 May 2011
Founded in 1975 – two production plants Production and sale of dairy products , fruit
juices, mayonnaise, ketchups, powdered products
Introduced the concept of wholesome milk and dairy products in Turkey
Raw milk processing capacity: 400.000 t/year
Net sales in 2010 : 577 million TL Works with 250 farms based on contracted
farming model• Market leader in milk and specialty cheeses • Exports to 20 countries with 29 million USD
export earnings
PINAR SÜT – Dairy Business
Founded in 1983 as a dairy feed company Main activities: Feed production, dairy farming, turkey farming, fish
farming and processing, plant nutrition Net Sales : 150 million USD Export value: 10 million USD
Agribusiness Division of Yaşar Group
Turkey – Netherlands Business Forum17 April 2012, Amsterdam
THE TURKISH DAIRY INDUSTRYHASAN GİRENES – Yaşar Group, Turkey
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