Union of Chambers and Commodity Exchanges of Turkey

Sakarya Agricultural Products Licensed Warehouse put into service

08.08.2022 / Sakarya

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) President M. Rifat Hisarcıklıoğlu attended the opening ceremony of the Licensed Warehouse built for the city by the Sakarya Commodity Exchange.​

The opening ceremony, hosted by Sakarya Commodity Exchange President Adem Sarı, was attended by TOBB President Hisarcıklıoğlu as well as Sakarya Governor Çetin Oktay Kaldırım, Sakarya Metropolitan Municipality Mayor Ekrem Yüce, TMO General Manager Ahmet Güldal and many business people.

TOBB President Hisarcıklıoğlu, in his speech here, pointed out that licensed warehouses are projects where the public and private sectors come together with a common purpose and share the same vision, “Approximately 17 years ago, in 2005, the Licensed Warehousing Law, which forms the basis of today's licensed warehousing system, was prepared with the contributions of TOBB. In order to encourage the private sector's license warehousing investment, we established TMO-TOBB Lidaş together with TMO in 2010. Thanks to these steps that develop licensed warehouses, our private sector has also turned to this area. Thus, the licensed warehouse capacity operating in our country today has exceeded 8.5 million tons. On the other hand, our commodity exchanges have done their part in this area. With electronic sales halls, accredited laboratories, live animal exchanges and licensed warehouses, our commodity exchanges help the agriculture and livestock sector to function healthily. 20 of the 27 authorized classifier laboratories that are decisive in the analysis of product quality in the licensed warehousing system belong to our commodity exchanges.”

Emphasizing that Sakarya Commodity Exchange is one of the leading institutions in this field, Hisarcıklıoğlu stated that the Commodity Exchange is the founding partner of both LİDAŞ and TÜRİB and that it has revealed its vision by realizing this important license warehouse investment.

- Thanks to Sakarya Commodity Exchange

Stating that Sakarya Commodity Exchange is also an accredited commodity exchange, TOBB President Hisarcıklıoğlu said: “In other words, it has been certified that it provides 5-star service to its members at international standards. We are also working together with President Adem Sarı at TOBB in Ankara. He is the Vice President of the Council of Commodity Exchanges. We determine agricultural policies together. I say may Allah be pleased with my brother Adem, who serves Sakarya and works for our country in Ankara. I wholeheartedly congratulate our Sakarya business world for bringing such a hardworking name to Sakarya and our community. The next step in Licensing Warehousing is the Product Specialized Exchange, TÜRİB. With the efforts and support of our Ministers of Agriculture and Trade, this Exchange was opened in 2019. We are also working together with TMO at TÜRİB. Thus, it is possible to trade products electronically and on a single platform without the need for physical relocation. Our producers can also obtain financing from Ziraat Bank and Agricultural Credit Cooperatives by collateralizing the Electronic Product Bills they procure from here. In the 3-year activity period of TÜRİB, the transaction volume exceeded 55 billion TL, the amount of transactions exceeded 20 million tons, while the number of investors reached 135,000. Thanks to licensed warehousing and TÜRİB, the prices of agricultural products will not be speculated by 3-5 people.”

- The goal is an advanced agricultural policy

Stating that the prices of agricultural products will be determined in a more transparent manner, Hisarcıklıoğlu said, “The TOBB community and commodity exchanges have undertaken an important mission for the development of licensed warehousing and agricultural product trade depending on the product stock in Turkey. Our goal is to increase the efficiency of agricultural markets and to have a developed agricultural market. At this time when the importance of agriculture and food is increasing, with a developed agricultural market, Turkey can become the epicenter of agriculture by using the advantage of its geographical location.”

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