26.01.2021 Ankara
Licensed Warehousing Evaluation Meeting was held online with the participation of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) President M. Rifat Hisarcıklıoğlu and Dr. Bekir Pakdemirli, Minister of Agriculture and Forestry.
TOBB President Hisarcıklıoğlu said here that
licensed warehousing is a good example where the public and private sectors
come together for a common purpose, share the same vision, thus bringing a
concrete work to Turkey.
Hisarcıklıoğlu said that they had a long and
difficult process, “About 16 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 2010, the TMO-TOBB Lidaş joint venture was
established with the TMO to encourage the private sector's investment in
license warehousing. Lidaş is currently licensed for 330,000 tons. With the
completion of the constructions, it will reach a capacity of 406,000 tons in 8
different regions.”
As a result of these steps they have taken for
licensed wart, Hisarcıklıoğlu stated that the private sector is also moving to
this area: “Thus, today the licensed warehouse capacity in our country has
passed 7 million tons. We have 126 businesses that obtain licenses and operate.
The number of businesses receiving permission has reached 235. On the other
hand, our trading exchanges also did their part in this endeavor. With its electronic
sales halls, accredited laboratories, live animal exchanges and licensed
warehouses, our commodity exchanges help the agriculture and livestock sector
to function healthily. 17 of the 21 authorized classification laboratories,
which are decisive in the analysis of product quality in the licensed warehousing
system, also belong to our commodity exchanges.”
Hisarcıklıoğlu said that the next step in
licensed warehousing is the Product Specialized Exchange TÜRİB. Reminding that
TÜRİB was opened in 2019, Hisarcıklıoğlu said, “Thus, it is possible to trade
products electronically and on a single platform without the need for physical
relocation. Earnings from buying and selling Electronic Product Securities on
our commodity exchange are exempt from income and corporate tax until December
31, 2023. There are also tax advantages such as agricultural income tax
withholding, stamp duty and VAT exemption. In addition, there is the
possibility of interest-free loans issued by Ziraat Bank and Agricultural
Credit Cooperatives by providing guarantees to our farmers. In 2020, TÜRİB
reached a transaction volume of 11.4 billion liras and a transaction amount of
7.2 million tons. The number of registered investors is nearing 80,000.”
Hisarcıklıoğlu emphasized that the prices speculation
of agricultural products by 3-5 people has been eliminated thanks to licensed warehousing
and TÜRİB, “The prices of our agricultural products have become more
transparently determined. The TOBB community and commodity exchanges have
undertaken an important mission for the development of licensed wart and
agricultural product trade in Turkey. Our goal is to increase the effectiveness
of agricultural markets and become to have an improved agricultural market.
There are large grain and food importing countries around us, and especially to
our south. At this time when the importance of agriculture and food is
increasing, Turkey can become the epicenter of agriculture by using the
advantage of geographical location with an advanced agricultural market.”
- Minister Pakdemirli
Minister of Agriculture and Forestry Dr. Bekir
Pakdemirli also stated that the storage process, which started in the 2000s,
has gained speed with the Licensed Warhousing Law issued in 2005.
Minister Pakdemirli stated that it has been 10
years since the first licensed warehouse establishment and that joint work is
being carried out with the Ministry of Commerce and TOBB in licensed
warehouses, and that the system is gradually starting to grow and develop with
the support and incentives provided.
Minister Pakdemirli stated that the number of
licensed warehouse companies reached from 38 to 126, while warehouse capacities
reached 7 million tons from 1.8 million tons, the total number of companies
receiving establishment permits increased to 232 and the capacity increased to
more than 15.7 million tons.