
Turkey has removed VAT exemptions on feed premixes and selected processed grain products, which will now face a 20% VAT rate. Industry stakeholders estimate feed costs could rise about 3-6%.
The change was published in the Official Gazette on January 31, 2026.
Higher VAT on premixes raises Turkish feed costs, which may trim domestic feed demand and livestock output, a modestly bearish signal for Turkish grain and meal import demand.
After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.