25 Apr 2023; MEMO: Turkiye imposed a 130 per cent import tariff on some grain imports including wheat and corn, according to a presidential decision published on Tuesday in the Official Gazette, Reuters reports.
The import duty comes after some European Union countries announced bans on grain imports from Ukraine last week. But some traders said Turkiye's move is largely to protect its local agricultural sectors ahead of landmark 14 May elections.
According to a previous regulation, there was no import tax on wheat, barley, rye, oat, corn and sorghum until 30 April. With Tuesday's decision, which will take effect from 1 May, a 130 per cent import tariff will be imposed on grain imports.
Turkiye's wheat and barley harvest starts in May.
Turkiye 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.
