Turkey imposes 130% import tariff on some grain imports

Turkey imposed a 130% import tariff of some grain imports including wheat and corn, according to a presidential decision published on Tuesday in the Official Gazette.

The import duty comes after some European Union countries announced bans on grain imports from Ukraine last week. But some traders said Turkey's move is largely to protect its local agricultural sectors ahead of landmark May 14 elections.

According to a previous regulation, there was no import tax on wheat, barley, rye, oat, corn and sorghum until April 30. With Tuesday's decision, which will take effect from May 1, a 130% import tariff will be imposed for grain imports.

Turkey's wheat and barley harvest starts in May.

Turkey had reduced import duties on grains and other agricultural goods after the pandemic in late 2020 and stopped them about a year ago.

The government recently announced large energy and infrastructure projects in the run up to the election, which opinion polls show President Tayyip Erdogan could lose after two decades in power.



Reuters