Turkey cut sunflower oil import duty

The Government of Turkey has decided to revise the amount of the duty on the import of sunflower oil, Zerno On-Line reports with reference to Resmî Gazete, the national and only official journal of Turkey that publishes the new legislation and other official announcements.

From November 25, 2020, through June 30, 2021, the import of sunflower oil to Turkey will be subject to a duty of 3% of the CIF price plus 60 EUR/t. And from July 1, 2021, 3% import duty will be in effect of the CIF price plus 280 EUR/t.

Related: Prices Driven High: Global Market for Sunflower Oil

Previously sunflower oil import duty was set at 36%.

In October 2020, the export of sunflower oil from Ukraine was 1.9x higher from the previous month.