The customs duty to be applied to corn imports has been redefined until the end of the year. A 5% customs tariff quota was opened for only 1 million tons of the amount that local production falls short in meeting the consumption. By the decision of the President, a tariff quota of 1 million tons of corn imports with a 5% customs duty valid until the end of the year was defined. The regulation determining the distribution principles of the tariff quota allocated for corn imports was also published in today’s issue of the Official Gazette with this decision. A 5% customs duty tariff quota was opened for only 1 million tons until December 31, 2024, to be used for the amount that local production falls short in meeting the consumption. “PRODUCERS WILL NOT SUFFER LOSSES” In the statement regarding the decision by the Ministry of Trade, it was emphasized that the corn producers will not suffer losses, and supply-demand balance will be ensured. According to the Ministry statement, customs duty of 130% will continue to be applied on imports exceeding 1 million tons during the relevant period. HIGHEST QUOTA OF 10 THOUSAND TONS According to the regulation on the application of the tariff quota in corn imports, the distribution of the tariff quota will be made using the allocation method based on the declaration order. It will be considered as an application to benefit from the tariff quota by selecting the relevant exemption code during the registration of the customs declaration. A maximum of 10,000 tons of quota can be used under one customs document.