Sunflower oil discount call in Turkey: It should be lowered below 30 liras

Published 2022년 7월 2일

Tridge summary

Recent developments in international markets have led to a significant drop in crude sunflower oil prices by 30 percent, now at $1500. This decrease is anticipated to benefit consumers in the domestic market with price reductions. However, the adjustment in Turkey has been limited to a 5-7 percent decrease in the dollar, despite calls for a more substantial price drop. The Consumers Union and the Consumer Confederation have urged retailers to lower prices more in line with the global trend, while the President of the Istanbul Chamber of Agriculture has criticized the delay in price adjustments and called for fair market practices. The current situation arose from a recent 300 percent increase in sunflower oil prices over the past year, fueled by unjustified fears of supply shortages due to the Russia-Ukraine conflict.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Crude sunflower oil decreased by 30 percent in the last two weeks to $1500 in international markets. This development is expected to be reflected in the domestic market as a discount. However, for now, only the decrease in the dollar was reflected on the shelves in the range of 5-7 percent. However, according to sector representatives, prices should be lowered by at least 30 percent right now. 5 liters of sunflower oil, which is 180-200 liras on the shelf, should go down to 120-140 liras. Likewise, the price of liter sunflower oil, which is still in the 35-50 lira band on the shelf, should decrease below 30 liras. There are still e-commerce sites on the market that sell 1 liter of oil under the name of 'organic' for 93.84 liras. Meanwhile, trying to break the perception of 'high price', some 4-liter cans of oil sell for 169.90 liras. PRICES MUST BE REDUCED According to the news of the Evening Newspaper, Consumers Union Chairman Mahmut Şahin said, "Markets should lower the prices ...

Source: Haber7