Source: Ukragroconsult (Ukraine)
Turkey has introduced an additional quota for imports of 1 million tons of corn with a reduced import duty of 5%, which will be valid until June 30, 2025. At the same time, the new rules limit the volume of supplies: importers can bring in no more than 8,000 tons in one operation, after which they must wait seven days before submitting the next application. This decision is aimed at controlling the pace of imports, as confirmed by Turkish traders.
Before the official introduction of the quota, local importers were actively building up stocks of corn in order to have time to take advantage of the reduced duties, because the quota operates on the principle of “whoever applied first, got it”. Market sources noted that warehouses in Turkey are already almost filled with imported grain, and the demand is unusually high at this time of year. Traders are expected to compete for better prices to sell accumulated stocks after the quota is implemented.
