The volume of grain supplies to Turkey may not change due to increased duties

Published 2023년 4월 25일

Tridge summary

Turkey is set to impose 130% import duties on wheat, corn, and barley from May 1, except for imports from Singapore, Bosnia, and Herzegovina. Despite this, the head of the Union of Grain Exporters of the Russian Federation, Eduard Zernin, does not anticipate a change in the total volume of grains supplied to Turkey. He highlights that Turkey's imported wheat volume has consistently exceeded 10 million tons per season since 2017, regardless of duty status. The duty exemption for wheat processing products like flour, pasta, and biscuits, as long as their export volume matches the imported wheat volume, is expected to mitigate impact.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The total volume of grains supplied to Turkey, most likely, will not change after the country raises duties on these products. This point of view of TASS was expressed by the head of the Union of Grain Exporters of the Russian Federation Eduard Zernin. On April 25, it became known that the Turkish authorities are introducing 130 percent import duties on wheat, corn and barley from May 1. An exception is made for Singapore, part of the products from which can be imported into the republic with a fee of only 16.2%. In addition, zero duties are retained for Bosnia and Herzegovina. "Since 2017, the volume of wheat imported to Turkey has consistently exceeded 10 million tons per season, regardless of the presence or absence of duties. We do not think that anything will change now, just as we will not be surprised if Turkey resets imports again in the new season. duty, having exhausted the internal potential," Zernin believes. He noted that the proposal to raise the rate is not a new ...

Source: Kvedomosti