Türkiye's Flour Millers Federation says government has eased wheat import restrictions

Published 2024년 10월 17일

Tridge summary

The Turkish government has imposed a suspension on wheat imports until October 15, in an effort to shield local farmers from low market prices and to encourage the Turkish State Grain Agency (TMO) to increase its wheat purchases. This interim measure is part of a larger strategy to regulate wheat market dynamics and bolster local production. It allows flour mills and wheat export businesses to source wheat from both TMO's stockpiles and private imports, with an 85:15 split, respectively. The suspension, which is set to conclude by year-end, has already impacted European grain markets, particularly affecting cheap wheat imports from Russia via the Black Sea route. The outcome of this import ban and its potential impact on market stability, especially in relation to Russia, remains to be seen, with[INST]ly.com noting that a significant volume of Russian wheat may be released into the Turkish market upon lifting of the ban, depending on the storage conditions of wheat in bonded warehouses.

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Original content

In June this year, the Turkish government suspended wheat imports until October 15 to protect farmers from low prices and promote the purchase of wheat by the Turkish State Grain Agency (TMO) in the country. TUSAF head Haluk Tezkan said the government has allowed flour mills and wheat product exporters to import wheat, of which 85% will come from TMO's imported wheat stocks and the remaining 15% will be imported privately. The new regulations have been implemented and these restrictions will last until the end of this year. Turkey has not made any official statement on the expiration of the import ban on October 15, nor has it stated what regulations will be implemented afterwards. European grain traders have said in recent weeks that the Turkish import ban has almost prevented Turkey from importing cheap wheat from the Black Sea, especially Russia. Trade said that in recent months, large amounts of Russian wheat have still been shipped to Turkey and stored in bonded ...

Source: Foodmate