Turkey increases imports of Ukrainian corn ahead of new quota

Turkish importers are actively buying up Ukrainian corn, trying to catch up with the possible introduction of a new import quota with reduced duties.

It is expected that the Turkish government may introduce a new corn import quota as early as mid-March or early April. This is reported by UkrAgroConsult.

The government’s initiative has provoked increased demand among traders who are eager to import cargoes before the new rules come into force.

In Turkey, quotas are distributed on a first-come, first-served basis, so importers are rushing to arrange supplies under current conditions. This led to unusually high demand for Ukrainian corn in February, although market activity is usually lower during this period.

At the same time, traders note that the main buyers are now trading companies, not end consumers, in particular starch producers and poultry farms, which have already secured their raw materials by April.

Amidst the surge in demand, corn imports from Ukraine to Turkey increased significantly in February. According to traders, from February 1 to 18, approximately 241 thousand tons of corn were shipped from Ukrainian ports to Turkey. This made Turkey the main buyer of Ukrainian corn in February.

The total demand for imported corn in Turkey until the new harvest is estimated at 500-600 thousand tons. The main procurement period will begin in the new marketing year, and for now, traders are closely monitoring price changes and government decisions on import quotas.

As USM wrote, four European Union countries recently requested the return of pre-war quotas for agricultural products from Ukraine.