Turkiye: Oilseeds and Products Annual

Assuming the return of more favorable growing conditions and yields that are in line with historical averages, Turkey is expected to produce more sunflowerseed, cottonseed, and soybeans in MY 2024/25 compared to the previous year, which was marked by dry weather conditions in parts of the country. To stabilize local market conditions and curb inflationary pressures, the government instituted a lower-duty import quota for sunflowerseeds and sunflower oil from January-April 2024. The surge in sunflower oil imports, most of which is crude sun oil, is expected to continue in MY 2024/25. Most of this imported sun oil will be refined and re-exported to neighboring markets.