Türkiye eases wheat import restrictions

Published 2025년 3월 20일

Tridge summary

Since March 19, Turkey has lifted its ban on wheat imports for flour export production, which was in effect from June of the previous year, in a move to protect local producers. Initially, millers were permitted to import 15% of the necessary raw materials, while the remainder was to be sourced from the Turkish Grain Council's reserves. This decision, while anticipated, is seen as a positive development for the market, especially for Russia, and could create an additional market for Russian wheat exports. Despite this, it is uncertain if this will significantly boost export and purchase prices. Turkey's purchases of Russian wheat have seen a notable decline since the introduction of restrictions, with the country buying 1.9 times less in the first half of the season compared to the previous year.

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

Original content

Since March 19, Turkey has relaxed restrictions on wheat imports for the production of flour for export, Reuters reports, citing the Federation of Turkish Millers. The republic suspended imports in June last year. This and a number of other measures were taken to protect domestic producers during the harvest period, the country's Ministry of Agriculture and Forestry reported at the time. The restriction was supposed to be in effect until October 15, but instead a mechanism was introduced under which millers were allowed to import 15% of the volume of raw materials needed to produce flour for export. The remaining 85% were to be purchased from the reserves of the Turkish Grain Council. Independent agricultural market expert Alexander Korbut says that, on the one hand, the decision of the Turkish authorities to ease the restriction was expected, on the other hand, it was unexpected. "Everything happened very quickly: the world market reacted, and prices went up," he adds. The easing ...

Source: AgroInvestor