The Turkish government announced on Wednesday a 1,000,000 metric ton limit for the import of animal feed corn. This was published in the Turkish Official Gazette.

Imports within the quota are allowed at a lower customs duty.

Last summer, Turkey limited grain imports to protect farmers against falling prices following a good harvest.

The ministry stated that it implemented the measure in order to avoid speculative movements, guarantee supply security and stabilize the costs of inputs for the Turkish livestock sector.

The ministry has announced that the import tender will remain in effect until the end June of this year.

European traders have said that the decision will bring a welcome new demand for the corn. Supplies are expected to come primarily from the Black Sea Region, including Ukraine and Romania.

One German trader commented: "This is great news for the corn demand side as Turkey has not been present for many months." If there's a peace agreement or ceasefire between Russia and Ukraine you can expect to see larger corn shipments coming from Ukraine. This will provide a new outlet for sales. (Reporting from Ezgi Erkoyun in Istanbul, Can Sezer in Hamburg and Mark Potter in London. Editing by Louise Heavens & Mark Potter.

(source: Reuters)