September 25, 2003

 

 

Turkey Corn Import Tax Rises 70 percent

 

Turkey, a net corn importer, raised the import tax on corn on Thursday to 70 percent from 45 percent as part of a seasonal move to limit imports and boost domestic crop consumption, according to a decree published in the Official Gazette.

 

Turkish import taxes are adjusted to balance domestic supply and demand on certain grains.

 

Turkey's corn production is expected to rise to 2.5 million tonnes this year from 2.1 million tonnes in 2002. Annual consumption is estimated at more than three million tonnes.