Gaziantep Commodity Exchange Chairman Mehmet Akıncı stated that they will pave the way for digitalisation in the agricultural sector with the Mediterranean Commodity Market Intermediary Institution (ÜPAK – MCMII); the institution, established with the partnership of 17 commodity exchanges, will serve investors and contribute to the national economy.

Gaziantep (Türkiye’s leading agri-food centre) Commodity Exchange (GTB) Chairman Mehmet Akıncı said that with the launch of the Mediterranean Commodity Market Intermediary Institution (Akdeniz ÜPAK), an important step was taken to pave the way for digitalisation in the agricultural sector.
Akıncı highlighted that the Mediterranean Commodity Market Intermediary Institution Joint Stock Company, which was established in partnership with 17 commodity exchanges, including Gaziantep Commodity Exchange, will serve all depositors and investors who want to buy and sell Electronic Warehouse Receipt (EWRs) in Turkish Mercantile Exchange (TÜRİB – TMEX).
Indicating that they went through a long and comprehensive preparation process in consultation with 17 commodity exchanges for the establishment of the Mediterranean ÜPAK, GTB Chairman Akıncı said, “This process allowed us to create the foundations of a strong and sustainable intermediary institution structure on a national scale.”

Sharing information about Akdeniz ÜPAK, Akıncı emphasized that this new initiative will be an important milestone in the digitalisation of the agricultural sector and the deepening of markets.
Reminding that Akdeniz ÜPAK was established in partnership with Gaziantep, Adana, Antalya, Mersin, Tarsus, Ceyhan, Kahramanmaraş, Nizip, Reyhanlı, Osmaniye, Kozan, Burdur, Antakya, İskenderun, Isparta, Kumluca and Kadirli commodity exchanges, Akıncı noted that the company has a capital of 20 million liras.
Announcing that Electronic Warehouse Receipts (EWR) trading transactions on the TÜRİB platform will be carried out through Product Market Intermediary Institutions (PPIs) as of 13 January 2025, Akıncı said that after this date, transactions carried out on the TÜRİB platform can only be carried out by Product Market Intermediary Institutions (PPIs) that have received an operating permit from the Ministry of Trade of the Republic of Türkiye and are members of the Exchange.
Pointing out that after the transition to the intermediary system, all producers and companies wishing to trade on the TÜRİB platform must register or update their existing registrations to the relevant ÜPAK platforms through the commodity exchanges to which they are affiliated, Akıncı unveiled, “It will be sufficient for individual investors to apply with an identity document and proof of residence for registration procedures, while official documents such as trade registry gazette and tax plate will be requested from companies.”

New investment areas and financing opportunities…
Underlining that the products to be traded through Akdeniz ÜPAK include basic agricultural products such as barley, sunflower seeds, wheat, rye, beans, hazelnuts, lentils, corn, dried apricots, cotton, soybeans, Akıncı added, “Various credit opportunities will be offered to farmers who bring products to the licensed warehouse through contracted banks.”
It will contribute to the country’s economy…
Explaining that agricultural markets will become more competitive with these innovations, Akıncı concluded, “With TÜRİB, healthier price formations will be ensured and price fluctuations will be minimised. This system, which brings a new financing model to the agricultural sector, will also make great contributions to the national economy. This platform will offer important opportunities not only for sector professionals but also for investors and the finance sector.”