Turkey imposes restrictions on wheat imports
Turkey will impose temporary restrictions on wheat imports to support local producers. The Ministry of Agriculture and Forestry of the Republic announced this on its website.
The ban will be in effect from June 21 to October 15 this year. It is specified that, depending on the market situation, the terms may be adjusted.
The Turkish Grain Agency (TMO) has managed to build up significant stocks of more than 9 million tons, and is now likely to sell this volume. The market believes that the ban is related to the recent rise in global wheat prices, in particular due to the risks of the Russian harvest.
The imposed restrictions will significantly change the market situation, as Turkey regularly takes similar steps. For example, in 2023, before the presidential elections, it imposed protective import duties. As Turkey is the largest exporter of flour in the world, it will probably be forced to open markets for imported raw materials in the future.
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