Turkey has introduced an additional 1 MMT corn import quota with a reduced 5% import tax, effective until 30 June, the government announced late on 18 March. ASAP Agri's Premium subscribers received this information immediately after it was published yesterday.

However, the new import rules come with restrictions: Turkish buyers can import only up to 8 KMT of corn at the reduced tax rate per transaction. After that, they must wait seven days before applying for another 8 KMT, according to the official paper. This measure is intended to slow the pace of imports, Turkish traders said.

Gözde Nur Karagöz, a broker at Pir Grain & Pulses, noted that bonded warehouses are already full of corn, meaning buyers will likely use existing stocks before turning to new imports.

Meanwhile, Koray Tüysüzoğlu, CEO of Erser Group Turkey, expects corn imports to remain strong despite the restrictions. “I don’t believe this will actually slow down corn imports. Demand for coasters will stay high. Most importers will discharge into bonded warehouses and wait without customs clearance,” he said.

The quota had been widely anticipated by Ukrainian exporters, who expected a surge in demand from Turkish buyers. Ukrainian corn prices have been rising, reaching 255 USD/MT CIF Iskenderun for a Handysize vessel as of 17 March.

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What impact will Ukraine’s market feel from Turkey’s next 1 MMT corn import quota at a 5% import duty, and what are the prospects for the new season?

Victoria Blazhko, Head of Editorial, Content, and Analytics at ASAP Agri, will share her insights at the Grain Ukraine Conference on 29-30 May 2025, in Kyiv, where ASAP Agri is a conference partner.