Agricultural Frost Disaster: Inspection of excessive pricing in over a thousand businesses

Following the agricultural frost incident, the Ministry of Trade is investigating cases of excessive pricing. Over a thousand businesses are under scrutiny, with inventory monitoring of lemons already initiated. In the aftermath of the agricultural frost incident that took place in Turkey and impacted several provinces to varying extents, it was determined that there had been a rise in prices for certain fruits and vegetables. President Recep Tayyip Erdoğan, following the Cabinet Meeting, drew attention to this issue and emphasized that they are closely monitoring the process, ensuring that no manipulation is allowed before damage assessment studies are completed. The Ministry of Trade has intensified efforts to combat initiatives that increase prices of essential goods and services necessary to meet the public’s basic needs of nutrition, healthy living, and protection, which end up causing harm to citizens. The Ministry is closely monitoring the impact of the agricultural frost on the prices of agricultural products and foodstuffs by maintaining a balance between supply and demand to ensure supply security. In this context, nationwide market surveillance activities are being carried out to address opportunistic initiatives. LEMON INVENTORY TRACKING Inspections focused on the provinces affected by the agricultural frost and across all 81 provinces have examined 1,271 companies and 8,476 products. Additionally, inspections were conducted by provincial trade directorates, especially in companies engaged in lemon trade. The inventory statuses of these businesses, along with their inventory movements, purchase and sale prices were examined. Inventory monitoring was conducted by the Ministry to prevent any issues in lemon supply. ADDITIONAL MEASURES WILL BE TAKEN Serious sanctions will be imposed on producers, suppliers, and retailers applying excessive pricing and engaging in hoarding activities. Businesses engaging in hoarding at least three times within a calendar year may face temporary closures of up to 6 days. As per the current revaluation rate, fines ranging from 143,930 to 1,439,300 Turkish Liras can be imposed on those practicing excessive pricing, while fines for hoarding activities can be between 1,439,300 and 17,271,600 Turkish Liras. In the future, the Ministry of Agriculture and Forestry, in collaboration with relevant agencies, will implement additional measures and inspections to ensure the preservation of food supply and security, facilitate public access to food at reasonable prices, and prevent any manipulative price movements in the market. In alignment with this, the Ministry of Agriculture and Forestry continues its efforts to assess damages post the agricultural frost incident and work towards compensating affected producers for their losses.