Turkey to hike 30% import duty on grains amid Ukraine crisis

 

turkey to hike 30% import duty on grains

Recently, Turkey government has imposed over 30% hike on import duty of grains. These include wheat, barley, corn, oat, sorghum and rye. This decision came into effect due to global grain amid aborted grain supplies due to the Russia-Ukraine war crisis. Russia and Ukraine cover the maximum portion of Turkey’s grain imports. Also, the one main reason is to sustain its grain imports for the domestic market.

Turkey’s Top Grains Imports


Wheat


Turkey is currently the 5th largest importer of wheat in the world. According to the recent Turkey import export data reports of 2022, Turkey's main grain exports were cotton, soybeans, wheat, tree nuts, food preparations, poultry and forest products.


As per the Turkey import data, the wheat imports from Turkey were estimated around 10 billion dollars in FY22. While as compared to the last year, it was 9.4 billion tonnes. The top markets for the imports of wheat from Turkey were Russia, Ukraine, Moldova and Brazil.


Since, the wheat supply halted from Ukraine and Russia, the government has decided to limit the imports of wheat for the financial year 2023. When we talk about Turkish exports of wheat, the total wheat exports were estimated around 1 billion dollars. The major markets for Turkish wheat exports were Iraq, Italy, Syria, Morocco.


Corn


Corn is another major agri import product by Turkey.  According to the Turkey customs data reports, the total corn imports by Turkey were around 750 million dollars in FY22. Ukraine and Russia were among the top corn exporters to Turkey.


As per the Turkey trade data, Russian and Ukraine corn imports were 300 million dollars and 295 million dollars respectively. Now, the supply has affected the corn imports of Turkey. Other crucial markets were Romania, Brazil and Moldova. In terms of exports, Turkey's corn exports totaled to be 145 million dollars. The top corn importers from Turkey were Iraq, Egypt, Cyprus, Uzbekistan and Serbia.


Soybean


Turkey does a significant amount of oilseeds on a yearly basis. These include sunflower seeds, soyabean, and cotton seeds. According to the import export data reports of 2022, Turkey's total oilseeds imports were around 1.4 billion dollars. The major markets for imports of oilseeds were Russia, Kazakhstan, Ukraine and the United States.


Barley


Turkey Barley imports grew over the years. For the financial year 2022, Turkey's barley imports were around 775K dollars. Russia and Ukraine are top suppliers of Barley to Turkey with over 75% share of imports. Other major exporters of Barley to Turkey were Romania, Latvia and France. Whereas our Turkey export data reflects that around 43K dollars were made by Turkey. The top importers of Barley to Turkey were Cyprus and Iraq.


Oats


In the financial year 2022, Turkey's oats production volume was around 323k metric tonnes. Turkey's oats imports were around 7 million dollars for the financial year 2022. Russia covers over 99% share of Turkey's total oats imports quota. On the other hand Turkey's oats exports were estimated around 39K million dollars. Mostly exported to Sri Lanka and Georgia.


Through Exim Global import export data provider Platform, Turkish import export business owners can discover verified grain importers from Russia, Ukraine and 200+ other countries and cut their costs. It is the best market research tool available to analyze the global grain supply chain and make better decisions regarding grain production quantity, pricing.

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