Ruhsar Pekcan determined exorbitant price in 1,094 food products in Turkey
Turkiye
Published Feb 4, 2021
Tridge summary
Controls increased against exorbitant price increases in markets. Minister of Trade Ruhsar Pekcan stated that the inspections for companies that apply exorbitant prices have increased in the last 15 days and said, “In this direction, we inspected 46 thousand 768 products of our 4 thousand 290 companies as of 17.00 the previous day. We determined exorbitant prices for 1,094 products of 226 companies. Around 2.3 percent of our audits set an exorbitant price on the product. Of course, here again, the decision of the board will be penalized. On this issue, we will introduce some new regulations in our legislation in the coming days ”. CHINA INCREASED THE SUNFLOWER PRICE Pekcan pointed out that there was an increase in commodity and food prices, excluding oil, throughout the world during the coronavirus epidemic, and said: We are dependent on imports of sunflower oil by 35 percent. Sunflower prices in the world first rose to $ 375 and then to $ 730.
Original content
Sunflower increased 95 percent in the world on dollar basis. Apart from that, Ukraine and Russia, from which we imported the most sunflowers, imposed restrictions. They imposed a tax on exports of 165 euros per ton on sunflower seeds, 135 euros on crude sunflower oil exports, 50 euros per ton on wheat exports, 25 euros per ton in corn, 10 euros per ton in barley. China and India have excessive demands due to stock, from the geography where we are buyers. We produce our own policies by evaluating them in the Food Committee. On the other hand, Pekcan emphasized that there are digitalization efforts to identify those who apply exorbitant prices and said: We are working on the Product Tracking System. Our aim is to be able to see the production, expiry date, weight, price processes, if any, certificates by scanning the label with a QR code. We have unfair price increase (HFA) mobile applications. We immediately contact ...
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