Turkey: Grain and Feed Update

The Turkish government continues its efforts to rein in inflation, which was made worse in recent months by the steep depreciation of the Turkish Lira against the US dollar and drought-related grain production losses in MY 2021/22. In response to the situation, the government has zeroed out import tariffs for certain imported grains and the Turkish Grain Board (TMO) has purchased about 5.75 million metric tons (MMT) of imported grain – wheat, barley and corn – since June 2021 to stabilize local prices. MY 2021/22 grain import figures have been adjusted to reflect these sizeable purchases.