Customs Duty Rates Reduced for Sunflower Seeds and Crude Sunflower Oil
President Recep Tayyip Erdoğan Signs Decision to Reduce Customs Duty on Sunflower Seeds and Oil
In a recent development, President Recep Tayyip Erdoğan has signed a decision to reduce customs duty rates on sunflower seeds and crude sunflower oil. This decision, which was published in the Official Gazette, aims to ensure the healthy functioning of sunflower markets until the harvest period.
As per the new decision, customs duty on summer sunflower seeds will be reduced to 12 percent from the previous rate of 27 percent. Similarly, the customs duty on crude sunflower oil will be reduced to 22 percent from 36 percent.
The decision, which is expected to have a positive impact on the sunflower industry, will remain valid until April 15, 2024.
This move is likely to benefit both producers and consumers in the sunflower market, as it is expected to lead to a reduction in the prices of sunflower seeds and crude sunflower oil. Additionally, it will help to ensure the smooth functioning of the sunflower market until the next harvest period.
The decision comes as part of the government’s efforts to support the agricultural industry and ensure food security in the country. It also demonstrates the government’s commitment to creating favorable conditions for local producers and businesses.
Overall, the reduction in customs duty on sunflower seeds and crude sunflower oil is expected to have a positive impact on the market and contribute to the growth of the sunflower industry in Turkey.
