Turkey's Feed Millers Union expects the government to allocate a new corn import quota to help contain inflation and feed costs, Bulent Ozsoy, broker at Atria Brokers said.

"Feed millers have formally addressed the Ministry of Agriculture and Forestry, requesting that corn imports under the new quota be exempt from tax," Ozsoy said.

Ozsoy added that the Turkish Flour Industrialists Federation pointed that if no new quota is granted, feed producers may turn to feed wheat as an alternative.

At the same time, Koray Tüysüzoğlu, CEO of Erser Group Turkey, said additional demand for imported corn may be limited, as Turkey has already imported and booked around 3 MMT.

“We will have enough stocks until the harvest, so Turkey will not be an active buyer. That may also help ease prices,” Tüysüzoğlu said.

The 1 MMT import quota with a reduced duty of 5% have been fully exhausted as of 29 April — almost two months ahead of schedule.