Sunflower Seed Import Duty Brought Forward
· NTV Ekonomi
The Ministries of Trade and Agriculture and Forestry have moved forward the application of a reduced 12% duty on sunflower oilseed to October 1, 2026, citing global drought and geopolitical risks.
Early Duty Reduction on Sunflower Imports
The Ministry of Trade has announced a new trade policy step aimed at ensuring supply security for essential food products and preventing speculative price movements in the markets. The goal is to protect both domestic producers in the refined sunflower oil sector and facilitate industrialists' access to raw materials. The reduction schedule for the customs duty on sunflower oilseed, which is normally applied at 20% during the harvest season and reduced to 12% between November 30 and June 15, has been brought forward. The regulation, enacted through a joint assessment by the two ministries, aims to stabilize refined oil prices in the domestic market.
Drought and Supply Security Measure
Geopolitical developments in the Black Sea region and severe drought affecting Europe have increased global risks in the supply of sunflower oilseed. Within the framework of the agreement reached between the Ministry of Trade and the Ministry of Agriculture and Forestry, the 20% customs duty will be applied at 12% starting from October 1, 2026, instead of November 30 this year. This early measure is planned to ensure that domestic edible oil manufacturers can procure sufficient quantities of raw materials at an affordable cost, thereby preventing potential increases in consumer prices.