Turkey Ban Hits Wellard's Ship Charter
Australia's largest live animal exporter, Wellard, is closely watching reports that Turkey has halted imports of live cattle.
Turkey last week unexpectedly revealed that it has halted imports of live feeder cattle from all countries.
Wellard informed the local stock exchange that that it has received preliminary reports that the Turkish Government has imposed a halt on the import of live feeder cattle into Turkey from all countries.
"At present, it is not clear how long the halt may last. News reports indicate that the halt may be temporary. It appears to be in response to an accumulation of stocks in Turkey and aligns with seasonal conditions," it said.
In addition to feeder cattle, Turkey also imports slaughter and breeder cattle.
Wellard’s livestock vessel, the MV Shearer, has recently been actively chartered in the live cattle market between South America and Turkey.
Wellard completed 5 voyages into Turkey in the 2018 calendar year from May 2018 until December 2018.
"At this point, given the changing nature of the situation, it’s not possible to predict the exact impact, if any, on the Company’s 2019 calendar year shipping schedule. Wellard will continue to monitor the situation," it said.