Marmarabirlik Extends 860 Million Lira Credit Support to Olive Producers

Marmara Olive Agriculture Sales Cooperatives Union (Marmarabirlik) has allocated 860 million liras in-kind credit support to olive producers, with credit limits ranging from 20,000 to 100,000 liras.

According to the announcement from the Union, the credit allocation sets the upper limit at 100,000 liras and the lower limit at 20,000 liras.

Hidamet Asa, the Chairman of the Board of Marmarabirlik, stated that they have concluded a historic product procurement period. Regarding the credit limits allocated to partners for the year 2024, Asa mentioned, “In-kind credit limits will be determined for the product, and the maturity will be until December 31. We are providing support equivalent to half of the production cost of 1 kilogram of olives, which is 30.44 liras. For those who attend cooperative general assemblies for three consecutive years, 1,500 liras will be given annually. Our aim is to meet the one-year needs of our partners. The total in-kind credit allocation is 860 million liras.”

Asa highlighted a 100% increase in the amount of product purchases compared to the previous year and mentioned that they do not plan to distribute chemical fertilizers this year. He added that, after paying for the products, they aim to provide fuel support by the end of April if the conditions allow.

source: prepared by Melisa Beğiç

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