Agricultural Frost Disaster: Investigation of Exorbitant Pricing in Numerous Enterprises

Following the agricultural frost incidents, the Ministry of Trade has begun scrutinizing exorbitant pricing practices. Over a thousand enterprises are under investigation, while lemon inventories are being monitored. In the aftermath of the frost events affecting various provinces in Turkey, it has been observed that some fruit and vegetable prices have increased. President Recep Tayyip Erdoğan, after the Cabinet Meeting, emphasized their close monitoring of the situation highlighting that until damage assessments are complete, no room will be given for any manipulative actions. The Ministry of Trade has intensified its efforts to combat initiatives causing price hikes in essential goods and services necessary for meeting the basic needs of the public such as nutrition, healthy living, and protection, aiming to prevent citizen hardships. The Ministry closely tracks the effect of supply-demand balance and agricultural frost on the prices of agricultural products and foodstuffs to ensure supply security. Within this scope, market inspections and surveillance activities were carried out nationwide against opportunistic moves. Inventory checks for lemons were implemented in provinces affected by the frost incidents and intensified in all 81 provinces, inspecting 1271 companies and 8,476 products. Furthermore, trade directorates conducted inspections specifically in firms engaged in lemon trade, examining their lemon inventories, stock movements, purchase, and sale prices. Stock monitoring was conducted by the Ministry to prevent any issues in lemon supply. Additional measures will be put in place against producers, suppliers, retailers applying exorbitant prices, and those engaged in stockpiling. Appropriate penalties will be implemented for those found engaging in stockpiling activities or practicing serious price hikes. Establishments that engage in stockpiling at least three times during a calendar year can be closed for up to 6 days. This year, fines ranging from 143,930 Turkish Liras to 1,439,300 Turkish Liras can be imposed on those practicing exorbitant pricing, while penalties between 1,439,300 Turkish Liras and 17,271,600 Turkish Liras can be applied for stockpiling attempts, based on the annual revaluation rate. In the future, additional measures and inspections will be implemented through the collaboration of relevant institutions led by the Ministry of Agriculture and Forestry to safeguard food supply and security, ensure public access to food at fair prices, and prevent manipulative price movements in the market. The Ministry of Agriculture and Forestry continues its efforts to assess damages after the agricultural frost events, focusing on compensating affected producers for their losses.