Trade sources concerned as Turkey expected to increase import duties on sunflower seeds and sunflower oil
Sunflower Seed
Refined Sunflower Oil
Turkiye
Published May 26, 2023
Tridge summary
The Turkish government is expected to increase import duties on sunflower seeds and sunflower oil from the current zero rates to 27% and 36% respectively from 1 June, according to trade sources.
Original content
The Turkish government is expected to increase import duties on sunflower seeds and sunflower oil from the current zero rate to 27% and 36% respectively from 1 June, according to trade sources. The current zero rate was due to expire on 31 May, the 12 May report said. “This is the market expectation but it’s not officially announced yet,” a Turkey-based source told. Although no official statement had been announced about the rate of import duty from 1 June, Turkish sources said the industry had anticipated the move, with any increase in duties expected to slow down imports, the report said. “The duties, which are scheduled to be introduced on 1 June, should have already been taken into account by the market. With the tariffs coming into effect soon and a new harvest season starting in Turkey, it is reasonable to expect a noticeable slowdown in import demand from Turkey,” Yılmaz Cakabey Aytug from Naragro told. However, the increased rate would have a significant impact on the ...
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