Türkiye’s Ministry of Trade has introduced new rules governing licensed agricultural warehouses, including changes to insurance notifications and warehouse fee tariffs.
A regulation amending the Regulation on Licensed Warehousing of Agricultural Products was published in the Official Gazette and entered into force, according to the Ministry of Trade.
Under the new rules, if a circumstance arises that could lead to the termination of an insurance contract required under the regulation, or if the insurance amount covering the risks specified in a policy changes, the relevant insurance company must immediately notify both the Ministry and the licensed warehouse operator.
Warehouse fees to be updated based on inflation
Licensed warehouse fee schedules will be approved by the Ministry and published in the Türkiye Trade Registry Gazette, becoming effective on the date of publication.
The fee schedules will be updated every January based on the average of the annual Producer Price Index (PPI) and Consumer Price Index (CPI) announced by the Turkish Statistical Institute (TÜİK).
The Ministry will have the authority to reduce this adjustment rate by up to half.
Ministry given greater flexibility
The Ministry will also be authorized to revise warehouse entry and exit fees, as well as the fee schedules of licensed warehouses handling products other than grains, pulses and oilseeds, at different dates and rates, taking into account market conditions and local commercial needs.
Such adjustments may be made no more than twice a year.
The licensed warehousing system covers the storage, preservation and trading of agricultural products under regulated conditions and is governed by the 5300 Law on Licensed Warehousing of Agricultural Products.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök