Marmarabirlik to Disburse 445 Million TL to Shareholders on December 6
Foreks - The product purchasing campaign for 2024/2025 continues, and Marmarabirlik, which makes payments for product costs every 15 days, will make a payment of 445 million TL to its partners on Friday, December 6, 2024 (tomorrow).
Marmarabirlik, which started its 2024/2025 product purchasing campaign in October, has so far made purchases totaling 40,000 tons. On December 6, 2024 (tomorrow), a payment of 445 million TL will be made to partners as a 50% payment for the product costs delivered between November 16 and November 29. Partners will be able to receive their third tranche of payments from Ziraat Bank’s ATMs starting from midnight. With this payment, a total of 882 million TL will have been paid to the partners.
Producers must take care of their products In a statement regarding product purchases, Chairman Hidamet Asa noted that there is a harvest of 379,000 tons in the cooperative region where Marmarabirlik operates, and it is neither physically nor financially possible to purchase the entire amount. He indicated that the supply-demand balance would change in 2025 and that there would be less product. Chairman Asa stated, “Currently, supply is high and demand is low. Since supply will decrease later, even if demand remains the same, prices will return to normal. Therefore, our producers should take care of their products.”
Although Marmarabirlik’s purchase volume of 60,000 tons is the highest in its history, Chairman Asa pointed out that there is three times the amount of product in the Bursa Region compared to last year, and it is not feasible for Marmarabirlik to handle this product alone. Asa expressed that table olives would be in demand in the long term, saying, “In a period where there is such a high harvest of table olives, Marmarabirlik's duty is to protect itself, its cooperatives, and its partners first. At the same time, it is to sell the partner's product in the best way possible and prepare for the next product purchase period.”
Stating that producers prefer oil olives when the first harvest period begins, Hidamet Asa remarked, “It is encouraging that the current deliveries are shifting towards table olives. This will ensure an increase in the price average for our producers. The average price of the product in the free market is at a low level. To ensure continuity in production, it is essential to protect the efforts and labor of the producers. Traders also have a duty in this regard. While the advance price for 270 types of products at Marmarabirlik is 70 TL, we do not find it appropriate for the free market to want to buy it for 45 TL.”
Issues with deliveries stem from varying declaration amounts Chairman Hidamet Asa continued by providing information about the current problems regarding delivery amounts, stating: “The root of these problems lies in the fact that the partners have recorded harvest declarations up to the main commitment amount at the time of their harvest declarations. As the difference between Marmarabirlik's purchase amount and the harvest declaration increases, the implementation of quotas becomes unavoidable. If the harvest declaration had come in at 80,000 tons instead of 100,000 tons, there would have been no quota application. I would like to emphasize the importance of declaring the amount of products that can be averaged in the upcoming years.”