Turkey Can Continue To Export Sunflower Oil With Inward Processing Regime
Cotton Seed Oil
Margarine
Ecenur Bilgin
Published Apr 19, 2022
Due to the Russia-Ukraine conflict, the Turkish government has imposed restrictions on soybean oil, sunflower oil, cotton oil, rapeseed oil, corn oil, and margarin on 9 March 2022. The ministry of agriculture and forestry made a written statement on 16 April 2022 about restrictions and informed the public that export operations pre-exist before the sanctions could continue. With the inward processing regime, as long as companies import raw material and process it, they can continue exporting. According to Turkish exporters and manufacturers, import and export operations will be boosted simultaneously with this regulation. While Turkey imports needed raw materials and supplies oil, it will also benefit from the opportunity of exporting the most demanded products of recent times.
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