Turkey used the corn import quota a month earlier
As of early December, Turkey has fully utilized its 1 million tons of corn import quota.
This quota with 5% import tax was valid from October 10 to December 31, 2024.
According to Salih Karagoz, agricultural advisor at ASAP and broker at Atria Brokers, demand in Turkey for imported corn remains weak as buyers are hesitant to pay higher prices.
“The import volumes exceeding the mentioned quota of 1 mln tons are subject to the duty of 130%,” the expert said.
As of December 2, the price of corn on the domestic market on the Konya Commodity Exchange was 239.4 USD/t.
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