Measures were taken to solve the oil problem that may come to the fore after Russia’s attack on Ukraine. Customs duty on imports of oil used for technical and industrial purposes was reset until 30 June.
According to the decision published in the Official Gazette and amending the import regime decision, among the products that will be subject to zero customs duty on imports, there are crude, pomace, soybean, safflower, sunflower seed, and corn oils.
After the Russia-Ukraine war, wheat and corn prices had increased very rapidly. Wheat and corn prices have increased by 37% and 21%, respectively, from the beginning of 2022 to date.
Source: Sabah / Translated by Irem Yildiz