Home / Agricultural Economy / Agribusiness / TURKIYE IMPOSES 130 PERCENT TARIFF ON SOME GRAIN IMPORTS!

TURKIYE IMPOSES 130 PERCENT TARIFF ON SOME GRAIN IMPORTS!

Türkiye has decided to enforce a 130 percent tariff on some grain imports, including wheat, corn and barley, to protect local producers, with the decision stipulated to take effect from May 1 onward.

Authorities gradually started to reduce the import tariffs on those three products two years ago due to drought, lowering them first to 45 percent, then 35 percent and 25 percent. The import tariffs were eventually totally removed.

With the latest decision published in the Official Gazette on April 25, the previous 130 percent import tariff was reintroduced.

Officials said that imposing an import tariff on those products ahead of the harvest, which will begin on May 15, is the right decision to protect farmers.

Food prices soared globally in the wake of the COVID-19 pandemic due to strong demand.

Türkiye stopped all import tariffs on wheat, barley and corn in an attempt to prevent further increases in the prices of basic foodstuffs, such as bread, animal feed, meat, milk and eggs.

But this time around, officials decided to reintroduce the import tariffs to protect local growers.

About İsmail Uğural

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