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Turkey’s wheat purchase prices and support premiums announced

May 5th, 2020: Following a recent Turkish cabinet meeting, President Erdogan made the following statement regarding cereal prices.

Grain prices, support premiums and other important information determined for 2020 are as follows.

The Turkish Grain Board will make purchases in 260 workplaces and licensed warehouses at approximately 25 points where the protocol is signed. An appointment system will continue to be applied in order to prevent a long wait in front of the workplaces.

Licensed warehousing companies that have signed the protocol will be able to sell their products to the Turkish Grain Board with the Electronic Product Certificate called ELUS. Turkish Grain Board will make purchases directly on six days a week except Sundays and on Sundays through licensed warehouses.

There will be no unloading fees from the producers this year, so that producers will have an additional profit of TL 10.60 per ton. The prices of the delivered products will be deposited into the producers’ accounts within 10 days after delivery. The producers who sell their products to the Turkish Grain Board via the Electronic Product Bond ELUS system will be able to receive their payments within three days.

Manufacturers who sell their products to the Turkish Grain Board via licensed warehouses also have 2 percent withholding, 2 percent Social Security Institution premium deduction exemption, 25,00 TL / Ton shipping support up to 750,00 TL, 25,00 TL per vehicle analysis support, warehouse rent fee support and TC Ziraat Bank and Agricultural Credit Cooperatives will have advantages such as up to five million TL, 75 percent of the product price, and the possibility of using a 9-month loan with 0 percent interest.

Also this year, all of the product will be purchased up to 50 percent more than the production amount in the documents from the producers registered in the Farmer Registration System. Traders and industrialists who are not registered in the system will be able to sell their products to Turkish Grain Board as of November 2, 2020. For this, the manufacturer will be asked to document what they received.

 

TMO purchase prices for the 2020 period