Turkish Grain Board starts corn purchases

August 23, 2023 - Corn harvesting started locally in Adana and Hatay in the first week of August, and the harvest rate across the
country has reached about 8 percent as of today. This year's corn production is estimated at 8.5 million tonnes compared to last year. 

TMO announced the corn purchase price as 6,000 TRY per ton (approximately 225 USD/ton).

TMO will purchase the entire production amount of producers registered with the farmer registration system. The purchases will be made at workplaces and licensed warehouses across Turkey. Producers will be able to sell their products to TMO as Electronic Warehouse Receipts (ELÜS) and deliver them to licensed warehouses.

The appointment purchase system will continue and appointments can be made as of 10:00 today and products can be delivered as of 24.08.2023. While purchases will be made 6 days a week at TMO workplaces, scheduled purchases at licensed warehouses will start on August 28.

Product fee payments will be made to producers’ bank accounts within 30 days following product delivery.

If producers deliver products to licensed warehouses; 2% withholding tax, 2% SSI premium deduction exemption, 25 TL / ton transportation support (up to 750 TL / approx. 28 USD), 25 TL (0.93 USD) analysis support per vehicle, warehouse rental fee support, as well as the opportunity to use 9-month term loans with zero (0%) interest up to 75% of the product price from T.R. Ziraat Bank and Agricultural Credit Cooperatives.

Producers will be exempt from the obligation to pay a stock exchange registration fee for corn deliveries to TMO.

The issues that producers should pay attention to for corn delivery to TMO include updating their Farmer Registration System information, making an appointment, opening an account with contracted banks and making the necessary transactions for product delivery to licensed warehouses.

 

The Global Miller
This blog is maintained by The Global Miller staff and is supported by the magazine Milling and Grain
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