Application of “fixed price” for beet sugar

SAFAKNA TURKEY – A written statement made by the Beet Sugar Producers Association (PANŞEK) states that there are 33 sugar factories in Turkey, 15 of which are state-owned, 12 of which are private and 6 of which are cooperatives, and that 2.6 million tons of beet sugar will be produced at these plants in the production period of 2022/2023. It was stated that this production will be at a level that meets the needs of the country.

Highlighting the positive developments in inventory planning and the balance of supply and demand in the current marketing year, the following was noted:

“Due to fluctuations in world sugar prices, adverse events occurred last year that disrupted our inventory planning and affected the stability of supplies. However, due to the sugar production figures we have implemented in the current marketing year and the coordination mechanism established in the industry by our Ministry of Agriculture and Forestry to ensure the stability of supply, there is no possibility of any risk regarding possible fluctuations in the world. sugar markets. As part of these developments, as sugar producers, we will begin the application of a fixed price on ex-factory sugar prices by September 1, based on current prices, that the application of a fixed price will also have a positive impact on retail prices, which have been stable for a long time, and we will continue to support the food security of our country and our economy. We respectfully present what we will be doing to the public and stakeholders in our industry.”