Lifting of restrictions on wheat imports to Turkey supported prices in Ukraine, although the main supplies will be from Russia

The Turkish government on March 19 allowed duty-free imports of wheat into the country to fully meet the needs of the flour milling industry, the Turkish Grain Council reported. Previously, flour mills purchased 75% of the required amount of wheat from the TMO, and imported the remaining 25%. From March 19, they will be able to import the required amount of wheat, provided that they subsequently export the corresponding amount of flour. Thus, Turkey is trying to regain the status of a major global flour exporter that it has lost recently. Thus, in the MY 2024/25, the country reduced flour exports by 41% compared to the previous season, from 2.45 to 1.44 million tons. The lifting of restrictions on wheat imports, coupled with a reduction in corn duties, led to an increase in food wheat prices in Ukrainian Black Sea ports by $5-6/t to $235-238/t. The decision of the Turkish government will contribute to the activation of exports of high-protein wheat primarily from the Russian ...