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Brent oil and commodity prices, in general, have lately been declining.
On July 5, TMO hiked the 5-litre cooking sunflower oil sale price to TRY135 (about TRY29,348/tonne or $1,693/tonne as of July 15).
The cost of 5-litre cooking sunflower oil to TMO is thought to be standing at TRY165 (about TRY35,870/tonne or $2,068).
In June, Turkey’s president, Recep Tayyip Erdogan, extended the zero tariff period for vegetable oil and oil seed imports to end-2022.
As of April, Turkey was applying export bans to a total of 38 agricultural items.
46 TURKEY Country Report August 2022 www.intellinews.com