Trade braces as fears Turkish sunflower seed import duties could rise to 27%, and sunflower oil to 36%
Sunflower Seed
Refined Sunflower Oil
Turkiye
Published May 17, 2023
Tridge summary
Trade sources spoken to by Agricensus have said they expect the Turkish government will increase import duties on both sunflower seeds and sunflower oil to 27% and 36% respectively from June 1, after the current zeroed rate expires on May 31. “This is the market expectation but it’s not officially announced yet,” a Turkey-based source […]
Original content
Trade sources spoken to by Agricensus have said they expect the Turkish government will increase import duties on both sunflower seeds and sunflower oil to 27% and 36% respectively from June 1, after the current zeroed rate expires on May 31. “This is the market expectation but it’s not officially announced yet,” a Turkey-based source told Agricensus. Despite the fact that there has been no official notification of what the import duties will be as of June 1, 2023, Turkish sources expect that any increase in duties will slow down the pace of imports, which was expected and provided by the market. “The market has been expecting this and the increase in duties, whatever they are, is not a surprise to us, even if a preferential rate is applied,” a Turkey-based broker told Agricensus. “The duties, which are scheduled to be introduced on June 1, should have already been taken into account by the market. With the tariffs coming into effect soon and a new harvest season starting in ...
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