Turkey: Wholesalers stocked up sugar for months and raised the price, now to sell it cheap over import permit

Sugar

Turkiye

Published May 31, 2022

Tridge summary

This year, hoarders' tricks on sugar prices have put both citizens and bee producers in great trouble. This week, 400,000 tons of sugar import permit was granted by the Presidential Decree, which relieved the market. Thus, confectionery manufacturers with import licenses will be able to import sugar from any country. Tariff quota opened for sugar imports Ministry of Agriculture and Forestry has started work for sugar imports SPECULATIVE MOBILITY HAS OCCURRED Considering the average of 2 million 500 thousand tons of sales-consumption data for the last three years, it is evaluated that the current sugar stocks will be sufficient until the new production period that will start in September. However, in recent days, speculative prices and quantities have increased due to the tendency of exporters of sugary products to use A quota sugar instead of imported sugar, the global pandemic and the Ukraine-Russia crisis, the tendency of users to stock up on basic foodstuffs such as sugar, and the tendency of consumers to stock up on sugar.

Original content

This year, hoarders' tricks on sugar prices have put both citizens and bee producers in great trouble. This week, 400,000 tons of sugar import permit was granted by the Presidential Decree, which relieved the market. Thus, confectionery manufacturers with import licenses will be able to import sugar from any country. Tariff quota opened for sugar imports Ministry of Agriculture and Forestry started work for sugar import SPECULATIVE MOBILITY HAS OCCURRED Considering the average of 2 million 500 thousand tons of sales-consumption data for the last three years, it is evaluated that the current sugar stocks will be sufficient until the new production period, which will start in September. However, speculative price and quantity movements have been observed in recent days due to the tendency of exporters of confectionery products to use A quota sugar instead of imported sugar, the global pandemic and the Ukraine-Russia crisis, the tendency of users to stock up on basic foodstuffs such ...

Source: Haber7