Russia May Bring Quota on Sunflower Exports

Russia, which was exposed to sanctions in many areas after its invasion of Ukraine, was dealing with some problems both politically and economically. Last night, the Russian Kremlin spokesperson said: nuclear explanation it resonated all over the world.

After all these events, the Minister of Agriculture of Russia, Dimitry Patrushev, is today the President of Russia. attended by Vladimir Putin and attended a meeting where they talked about the Russian economy after the sanctions. Patrushev made important statements after the meeting.

A quota may come to sunflower oil exports

In Patrushev’s statement, “In order to maintain stability in the domestic market, our exports of sunflower oil and pulp (fresh beet pulp) We want to bring a quota. We submitted the relevant proposal to the Russian Ministry of Economic Development.” He used his expressions.

In response to this new decision of the Russian government, which previously stopped exports of white sugar and sugar cane, and then grain exports to the Eurasian Economic Union, on March 15. is almost certain.

So how does this quota affect Turkey?

Recently in our country most paid Sunflower oil, one of the products, is one of the most important products that we import especially from Russia. The sanctions and trade disputes after the invasion of Russia therefore affected Russia as much as it did. affects our country.

Turkey consumes an average of 1 million 350 thousand tons of sunflower oil every year. This is approximately the amount of oil consumed. 450 thousand tons are imported from Russia. Of course, besides Turkey, many different countries also import sunflower oil from Russia. When this is the case, in case of a possible quota, Turkey’s may need to turn to alternative markets.

If the search for alternative markets is unsuccessful, there may be serious decreases in the amount of imported oil, and this situation will cause the price of sunflower oils, which are currently sold at a higher price, to decrease. can cause it to rise even higher..