Imports of sunflower seeds and oil to Turkey may be shifted to early January
Given the introduction of the tariff quota on imports of sunflower seeds and sunflower oil and the reduction of duties, imports of sunflower seeds and oil to Turkey may be shifted to early January, while last year the active trade took place in September-December.
“Companies can choose to use the quota to import either sunflower seeds or crude oil. The choice will depend on the yields in the Black Sea region, demand for refined oil, prices for sunflower seeds and meals, as well as current and future prices for crude vegetable oils,” said Bulent Ozsoy, broker at Atria Brokers.
According to him, prices on the domestic market have already started to rise. In the first two days after the announcement of the quotas, sunflower prices increased by 30-60 USD/t, and crude sunflower oil prices increased by 25 USD/t.
“However, it is still too early to predict a stable trend due to the current market volatility,” Bulent Ozsoy added.
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