Turkey: Turkish Government Intervenes to Stabilize Cooking Oil Market

Fearing rising prices and the perceived threat of sunflower oil shortages, customers have scrambled in recent days to stock up on cooking oils. The Turkish government has reassured the public that a shortage doesn't exist. At the same time, in order to stabilize local market conditions, the government recently halted cooking oil exports and also zeroed out tariffs on imported oils. Meanwhile, the purchase price of imported wheat continues its upward climb, and some local feed companies are reportedly considering limiting sales volumes if feed ingredient supplies become tight.