Union of Chambers and Commodity Exchanges of Turkey

Cooperation between Turkish Product Specialized Exchange and Agricultural Credit Cooperatives of Turkey in Contract Agriculture

23.11.2020 / Ankara

The Turkish Product Specialized Exchange (TÜRİB) and The Agricultural Credit Cooperatives of Turkey (AGRICULTURE CREDIT) went to cooperation on the conversion of contracted agricultural products purchased by AGRICULTURAL CREDIT member cooperatives into electronic product bonds (ELÜS) and trading in TÜRİB.​

With this cooperation, products produced by AGRICULTURAL CREDIT member manufacturers are stored in licensed warehouse enterprises and converted into ELÜS and processed in confidence and stability in the TÜRİB ELÜS Market.


In addition, in-kind and/or cash payments made to farmers by AGRICULTURAL CREDIT cooperatives prior to production are offset in the clearing process over the transaction amounts carried out in TÜRİB within full automation.


With the infrastructure development works carried out jointly by TÜRİB and AGRICULTURE CREDIT, AGRICULTURE CREDIT cooperatives were integrated into the TÜRİB ELÜS Transaction Platform and the purchase of products subject to contract agriculture was carried out in TÜRİB. Within this framework, the first transaction was carried out on 17/11/2020.


AGRICULTURE CREDIT, as Turkey's largest farmer organization, which dates back to 1863, conducts contract production activities in order to make planned production with farmers and to supply the needed agricultural inputs at the right time. In this context, it provides support such as seeds, fertilizers, agricultural tools, fuel, feed and credits to a wide range of producers of fresh vegetables and fruits as well as producers of barley, wheat, corn, oil sunflower, raisins and olives, which are covered by ELÜS in the agricultural sector.


TÜRİB continues its cooperation with the Union of Chambers and Commodity Exchanges of Turkey (TOBB), Ministry of Commerce, Ministry of Agriculture and Forestry, Ministry of Treasury and Finance and other stakeholders in order to increase predictability in the food supply system and to develop contract agriculture within the framework of contributing to providing a stable source of income for farmers and to spread its use by other market participants.


- About TÜRİB


Turkish Product Specialized Exchange, Article 53 of the Union of Chambers and Commodity Exchanges of Turkey Law No. 5174, 2 published in the Official Gazette dated 06.04.2017 and numbered 30030 upon the proposal of the Ministry of Commerce and the Capital Markets Board within the framework of the Provisions of Agricultural Products Licensed Warping Law No. 5300 and related legislation. It was established on 08.06.2018 in accordance with the Decision of the Council of Ministers no. 017/9986 and launched the ELÜS Market on 26.07.2019.

The main purpose and activity of TÜRİB is to carry out stockbroking activities in order to ensure the execution of the trade of electronic product securities and futures contracts based on electronic product securities created by licensed warehouse operators within the framework of Law No. 5300 and related legislation.

For detailed information: www.turib.com.tr

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