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TMO wheat prices to turn Turkish buyers to imports

TMO wheat prices to turn Turkish buyers to imports

London, 10 June (Argus) — Wheat buyers in Turkey are likely to turn to wheat imports — despite an ample domestic harvest this year — with the country's grain importer TMO's sales price for milling wheat, although the difference between domestic and import markets is likely to push up the import licence value. TMO has set the price for its sales of the country's domestic crop at 18,500 Turkish lira/t ($401/t) on 1 June, which would come into effect from October. The firm has planned to buy domestic wheat from farmers at TL16,500/t. A comparable cif price for wheat imports based on the domestic sales price would be about $317/t at discharge ports, based on the sales price, an inward processing regime (IPR) licence fee at about $65/t and unloading costs at ports. The import price ceiling is much higher than wheat prices in international markets at present, which is likely to draw Turkish buyers to wheat imports. Russian new-crop wheat was, for example, offered at $256/t cif Mersin this week for shipment in August. That said, the gap between the import and domestic markets would encourage importers to bid for rights and capacity to import wheat into the country with no import tax, pushing up market values for the IPR licence. The licence could become more valuable than the equivalent of $65/t between now and October, shrinking at least in part the import margin, market participants said. TMO could also introduce an import ban to prioritise distribution and consumption of domestic wheat. Market participants have waited for an import ban since early May. But an outright import ban is likely to damage the country's flour export market. Egyptian flour exporters took shares of key export markets such as Syria away from Turkey when TMO last banned wheat imports in 2024, according to market participants. Turkish farmers could produce 20.5mn t of wheat in 2026-27 (June-May), up from 16.5mn t in 2025-26, according to Argus estimates. The country is therefore expected to require less wheat imports in 2026-27 at 4mn t, down from 7.3mn t in 2025-26. Russia supplied 5.2mn t of Turkey's total wheat imports at 5.7mn t in June 2025-April 2026, customs data show. By Erik Metaliaj Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.