Turkey introduces new corn import quota
Turkey has implemented an additional import quota of 1 million tons of corn with a reduced import duty of 5%, valid until June 30, 2025. At the same time, new regulations limit shipment volumes: importers can bring in no more than 8,000 tons per transaction, after which they must wait seven days before submitting the next application. This measure is aimed at controlling the pace of imports, according to Turkish traders.
Before the official introduction of the quota, local importers actively built up corn stocks to take advantage of the reduced tariffs, as the quota operates on a “first come, first served” basis. Market sources reported that storage facilities in Turkey are already nearly full of imported grain, and demand during this time of year is unusually high. It is expected that after the quota is enforced, traders will compete for better prices to sell off accumulated stocks.
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