Source: Oleoscope (Russia)
Turkey will lower sunflower seed import duties from 20% to 12% starting October 1, according to a Russian Agroexport report.
Earlier, it was announced that the import duty on sunflower oil would be reduced by 6 percentage points to 30% from the current 36%.
The only exception will be Kosovo, from where imports can be carried out completely duty-free.
Analysts note that the current adjustments in tariff policy are aimed at stabilizing domestic prices and stimulating oil production in Turkey. The new measures should boost imports (especially from Russia/Ukraine), strengthen Turkey’s bottled exports, and support global prices.
Facing low reserves after bad harvest, Turkey eliminated sunflower seed import duties, increasing imports 4.3x to a record 396,000 tons. Imports of sunflower meal also increased significantly, to 367,000 tons, of which Turkey purchased 356,000 tons from Russia.