Marmarabirlik to Disburse 445 Million TL to Shareholders on December 6th

Foreks - Marmarabirlik, which is currently running a product purchasing campaign for 2024/2025 and pays for the products in 15-day intervals, will make a payment of 445 million TL to its partners on Friday, December 6, 2024 (tomorrow).

Starting the 2024/2025 product purchasing campaign in October, Marmarabirlik has so far purchased 40,000 tons of products. On December 6, 2024 (tomorrow), a payment of 445 million TL will be made representing 50% of the product prices delivered to partners between November 16 and November 29. Partners will be able to withdraw their third tranche payments from Ziraat Bank ATMs starting at 00:00. With this payment, a total of 882 million TL will have been paid to the partners.

Producers must take ownership of their products In a statement regarding product purchases, Chairman Hidamet Asa noted that in the cooperative region where Marmarabirlik operates, there is a harvest of 379,000 tons, and it is neither physically nor financially possible to purchase all of that amount. He stated that the supply-demand balance would change in 2025 and that the quantity of products would be low. “Currently, supply is high and demand is low. Since supply will drop later, even if demand stays the same, prices will normalize. Therefore, our producers should take ownership of their products,” he expressed.

While Marmarabirlik’s highest purchase amount in history is 60,000 tons, Asa pointed out that there was three times as much product in the Bursa Region compared to last year, stating that it was not possible for Marmarabirlik to handle this product alone. Asa forecasted that in the long term, table olives would be in demand, stating, “During a period when the harvest of table olives is this high, Marmarabirlik’s first duty is to protect itself, its cooperatives, and its partners. At the same time, it must ensure that its partner's product is sold in the best possible way and prepare for the next purchasing period.”

Hidamet Asa noted that the preference of producers at the start of the harvest period was for oilseeds, and added, “It is gratifying that current deliveries are leaning towards table olives. This will lead to an upward increase in the average price from the perspective of our producers. The average price of products in the free market is low. To ensure continuity in production, the labor and effort of the producer must be protected. Here, traders also have a role to play. While Marmarabirlik's advance price for 270 olive varieties is 70 TL, we do not find it correct for the free market price to be sought at 45 TL.”

Problems in delivery arise from differing declaration figures Regarding the current issues with delivery quantities, Chairman Hidamet Asa continued: “The root of these difficulties lies in the fact that partners have provided harvest declarations that reached the main commitment amounts. As the difference between Marmarabirlik's purchase quantity and the harvest declaration grows, the implementation of quotas becomes inevitable. If the harvest declaration had come in at 80,000 tons instead of 100,000 tons, there would not have been a quota application. I want to emphasize the importance of providing harvest declarations that correspond to the average quantity of products that can be given in the coming years.”