Import duty imposed by Turkey will hit Ukrainian grain exports

UkrAgroConsult

Turkey, the largest buyer of Ukrainian wheat and barley, is imposing an import duty on wheat, barley and corn at 130% of the cost starting May 1.

According to the official gazette of Turkey, T.C. Resmi Gazete, the current rate of such duty is set at 0%.

The Turkish authorities explain the need to increase the duty by protecting local producers ahead of the new season.

According to the State Customs Service of Ukraine, in the first quarter of this year, Turkey was the largest buyer of Ukrainian wheat, importing $168.8 million worth of wheat, which is 17.7% of its total exports. In particular, in March, Turkey imported Ukrainian wheat worth $70.9 million, accounting for 20.5% of its exports.

Ukrainian barley was imported to Turkey in the first quarter of this year for $52.7 million, or 42.1% of all exports of this crop, including $17.3 million or 38.8% in March.

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Tags: corn, Turkey, barley, wheat, restrictions, Ukraine