Türkşeker to make 4.4 billion lira in advance payments to producers

The 2024 sugar beet purchase price has been set by Türkşeker at 2,375 lira per ton, including the quota completion premium. According to information obtained from Türkşeker, the sugar beet purchase price was set at 1,855 lira per ton last year, representing a 28 percent increase in the purchase price.

While approximately 9.7 million tons of sugar beets were purchased last year, plans are in place to purchase around 7.3 million tons this year.

A TOTAL OF 6 CASH ADVANCES ARE PROVIDED TO PRODUCERS

To support farmers with expenses during the sugar beet production process, Türkşeker provides a total of 6 cash advances amounting to 540 lira per ton for hoeing, maintenance, irrigation, diesel, harvesting, and delivery, in addition to support for the most critical inputs: fertilizer and seeds.

Through these cash and in-kind advances, approximately 35 percent of the beet payment is made to producers before they even deliver their beets, without any interest applied. This helps support the financing costs of the farmers.

Furthermore, transportation support is paid to producers who deliver beets to the factory center. In addition to these, producers are given an entitlement (free of charge) of wet beet pulp. Within this scope, a total of 4.4 billion lira in advance payments has been made this year, consisting of 2.8 billion lira in cash and 1.6 billion lira in-kind.

In accordance with the sugar beet production contract signed between Türkşeker and the producers, beet payments are completed within 30 days at the latest from the date when beet purchases are finalized on a factory-by-factory basis.

COMMITMENTS RECEIVED FOR THE ENTIRE 8.1 MILLION TON BEET PRODUCTION QUOTA

Sugar beet planting began at the end of February this year. Commitments were received for the entire 8.1 million ton beet production quota set for 2024. Planting was carried out on 1.1 million decares by 36,109 producers in 1,256 villages. It is estimated that 940 thousand tons of sugar will be produced in Türkşeker factories during the 2024-2025 production period, and approximately 2 million tons of wet beet pulp will be obtained along with 300 thousand tons of molasses. The production campaign, which is expected to last about 114 days on average, is planned to begin in September 2024 and conclude in mid-February 2025.

News Source: AA