THE GLOBAL WINDOW OF TURKISH FOOD AND AGRICULTURE The Global Window of Turkish Food and Agriculture Sector
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The economy management took action against the supply restriction with the spike in red meat prices before Eid al-Fitr. The Turkish Competition Authority started a preliminary investigation to determine whether there was a speculative price increase or supply restriction in red meat prices before the Ramadan Feast. While their control in the meat market increased, livestock trade, integrated meat facilities and breeders are followed and inventory studies are being carried out in the cities that are engaged in fattening.
WATCHING CLOSE
Birol Küle, Chair of the Competition Authority stated that one of the most important issues that have been on the agenda of the public lately is the red meat prices in the country. Pointing out that red meat prices have boosted significantly with the high rate hikes in the last few months, Küle said, “These price increases in red meat, which is one of the most basic foodstuffs, are undoubtedly closely followed by the Competition Authority as well as other relevant public institutions. Our institution has been carrying out studies on the red meat sector since 2022 and extensive investigations on the enterprises and associations of enterprises operating in the sector are still ongoing.”
Küle explained that in these examinations, which aim to scrutinize the red meat market in a way that covers the country, the structural and regulatory problems of the sector, the market behaviours of the undertakings and associations of undertakings in the sector were discussed.
PENALTY UP TO 10 PERCENT OF TURNOVER
“In case of detection of these behaviours, which constitute a violation of the Law on the Protection of Competition, administrative fines of up to 10 percent of the turnover of the undertakings may be imposed on the undertakings concerned. Our institution continues to work to do what is necessary to detect and severely punish anti-competitive behaviours,” Küle added…
