Zeroing tax on sunflower oil and safflower seed imports in Turkey

Published Oct 26, 2021

Tridge summary

A recent government decision, published in the Official Gazette, aims to increase support for sunflower production in Turkey, as the country achieves a record production of 1.65 million tons this year and globally, production is expected to reach 57 million tons. The decision includes a 25% increase in the oil sunflower difference payment support for 2020, from 40 kurus to 50 kurus per kilogram. This increase is expected to positively impact the cultivation areas and result in a significant increase in the amount of product to be harvested compared to the previous year. The Ministry of Agriculture and Forestry will continue to monitor domestic and international markets to protect producers and consumers.

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

Original content

Evaluating the said decision, which came into force after being published in the Official Gazette, to the AA correspondent, Büyükhelvacıgil said, "We were waiting for this decision. It was a little late, actually, it should have been issued earlier." he said. Büyükhelvacıgil stated that there is a production of around 57-58 million tons, especially in sunflower, all over the world, and that a record production of 1 million 650 thousand tons was achieved in Turkey this year. On the other hand, Büyükhelvacıgil pointed out that oil prices have risen "in a very strange way" and said that everyone complains about the high fertilizer prices and that the government continues to work on this issue. Emphasizing that the increase in the exchange rate will also have an impact on product imports, Büyükhelvacıgil said: "There is a problem in the supply of goods to the market. This needs to be solved. Oilseed sunflower does not flow to the market. I hope these decisions will make the sector ...

Source: Milliyet Agri News