After the zero tax on sunflower oil, oil prices in the domestic market are expected to decrease by 10 to 15 percent.
The war between Russia and Ukraine, which owns more than half of the world’s sunflower oil market, has increased shelf prices.
In addition, stocking was another important factor that increased sunflower oil prices.
After the increased prices, before the New Year, imports of crude sunflower oil were 250 dollars per ton and a 5 percent tax was applied to sunflower seeds.
After the zeroing of customs duties on crude sunflower oil and seeds, oil prices are reduced.
10% to 15% discount expected
In this context, a 10 to 15 percent decrease in oil price is expected.
Speaking to Mehmet Hanifi Gülel from the Economy newspaper on the subject, Solventum Chairman Onat Angı noted that 150 thousand tons of crude oil had been connected in the last 15 days with the zeroing of import duties on crude oil and sunflower seeds in Turkey at the beginning of the year.
Angı also said that Turkey normally purchases between 50 and 60 thousand tons of crude oil per month.
“With the decrease in Turkey’s purchasing appetite, prices have started to decline again”
Angı made the following statements in the continuation of his statement:
“Decisions taken by Turkey also affect foreign markets. Prices abroad increased by 3 to 4 percent. The price of crude oil rose from $1,225 to $1260 per ton. However, with the decrease in Turkey’s purchasing appetite, prices fell again. In the 24 thousand-ton tender held last week, the delivery price of Tekirdağ was 1,219 dollars and to Iskenderun was 1,229 dollars.
“After February, it should be reflected in shelf prices between 10 and 15 percent”
With this auction, the price decrease was registered and crude oil prices in the international market are currently trading between 1,230 and 1,235. The core of Marmara, whose delivery price is 625 dollars per ton, is traded at around 11,500 Turkish liras in the country. On the other hand, tax-free crude oil prices reduced the cost per kilo from 26 TL to 24 TL in the domestic market. As the new connected goods arrive, they should be reflected in the shelf prices between 10 and 15 percent after February.”