Turkey introduces duties on Russian goods
Turkey has introduced import duties on Russian products, Izvestia reports with reference to the Russian Ministry of Agriculture. The duty on corn and wheat will be 130%, on rice – 45%, on sunflower oil – 36%, on sunflower meal - 13.5%, and on legumes - 9.7%. Fees are introduced from March 15, 2017. At the same time on March 17 Turkish government agencies did not confirm the introduction of restrictions on the supply of Russian wheat.
The Russian Ministry of Agriculture stated that duties create certain difficulties, in connection with which it plans to develop new "promising markets." Russian authorities hope to increase exports to the Asia-Pacific region, as well as in Latin America and Africa. It is reported that over the past three years, Turkey has reduced purchases of Russian goods, which are now taxed.
Experts suggest that Turkey has introduced new duties to achieve the supply of tomatoes to Russia. Russian experts believe that Turkey will also incur losses from the introduction of duties, so the optimal option is an agreement on duty-free import of agricultural products from Russia.