Turkey: Türkşeker executives offered a price above the cost to make a profit

The managers of Turkish Sugar Factories offered a price above the cost in order to make a profit. Türkşeker Deputy General Manager Şahin Arat said, “In order to zero our operating loss, sugar sales prices should be determined above the sugar costs by following the market sales conditions.” Discussions about the accounts of the Turkish Sugar Factories (Türkşeker) and the General Directorate of Tea Enterprises (ÇAYKUR) at the GNAT Commission of the Grand National Assembly of Turkey witnessed interesting discussions and confessions. In this context, the most interesting statement came about when the representative of the Court of Accounts suggested that steps should be taken to break the ever-growing debt spiral that Türkşeker was in and to improve its financial situation. MANUFACTURER PANICED The response of Türkşeker Deputy General Manager Şahin Arat was as follows: “In order to zero our operating loss, sugar sales prices should be determined above the sugar costs by following the ...