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TMO to make all purchases from licensed warehouses in 2019

05 January 20182 min reading

It has been stated that Turkish Grain Board (TMO) will skip to the licensed warehousing system which attracts great attention worldwide within two years. 

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İsmail Kemaloğlu, General Director of Turkish Grain Board (TMO) stated that they give importance in licensed warehousing and said, “We believe it will be beneficial to parties. As of 2019, TMO will make all of its purchases in licensed warehouses”. Pointing out that they will skip to the licensed warehousing system completely within two years, Mr. Kemaloğlu added: “There must be an infrastructure where the producer can keep products in stock. It is the only way to stay strong against industrialist and merchants and hold products over. Therefore, we give high importance in licensed warehousing. We believe it will be beneficial to parties. As of 2019, Turkish Grain Board will make all of its purchases in licensed warehouses. We have purchased 2 million tons of wheat, and 205 thousand tons of corn in this year. We have purchased approximately 335 thousand tons as electronic product bill in licensed warehouses, and sell them in the same way.” Stating that agriculture, food, and cereal future will revolve around Turkey, Mr. Kemaloğlu said, “The USA was the most important wheat exporter 10 years ago. What about today? Russia. Today, grain of the world revolves around Black Sea basin. Grain price of Black Sea region is not determined by Chicago. What does this mean? A regional stock exchange is required. Licensed warehousing, the story of product specialization stock exchange is the part of the dream we talked about 10 years ago. Product exchanges of the region should be Turkey. This has been achieved at this point. We will success this if necessary speed and energy are reached.”

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