Union of Chambers and Commodity Exchanges of Turkey

Explaining that the middle class in the world is constantly growing, Hisarcıklıoğlu said, “Middle class is consuming more and spending more. Every year, a population twice that of Turkey is added to the middle class. 2 billion people live in our region. This 2 billion imports nearly 500bn USD worth of food, agriculture and livestock products annually. We have a terrific market around us. Look at the products whose prices have risen the most in the last decade in the world; food, agriculture and livestock products. My brothers in this sector are in the right business. We cannot neglect agriculture. Because as long as we live, we have to consume. And it is our duty to meet the demands of this region.”

Stating that the food, agriculture and livestock markets are regulated by the commodity exchanges in Turkey, the TOBB President said that the analysis of the products is done in laboratories in the commodity exchange, the price determined in the commodity exchange with the participation of buyers and sellers.

Hisarcıklıoğlu emphasized that they give a modern commodity exchanges with accredited laboratories, sales halls and licensed warehouses to their members and the commodity exchanges became a model throughout the world.

Hisarcıklıoğlu mentioned that recently, they took three important steps to improve the food, agriculture and livestock market in Turkey. Licensed warehouses have been set up where manufacturers bring the product they produced, where products analyzed in the laboratory are then placed in the warehouse and an electronic product certificate is received in exchange can be used to access financing or used as collateral.

Secondly, the Product Specialization Commodity Exchanges have been established, Hisarcıklıoğlu said, “We’ve attained the 50-year dream of Product Specialized Stock Exchanges. The licensed warehouses are at the base of the Product Specialization Exchange system. Just like Borsa İstanbul. This is a commodity exchange. We can sell our goods all over the world. We are renewing the Third Party Commodity Exchange Registration Software. Now it becomes possible to register from your workplace, from your mobile phone, from the internet. The new system will also work with all institutions. You do not have to go too many institutions.

Hisarcıklıoğlu said that Ilgın Commodity Exchange is an accredited commodity exchange and that it provides services on par with world standards to its members.

Hisarcıklıoğlu, reporting that the transaction volume of 113 commodity exchanges last year increased by 17% while the trading volume of Ilgın Commodity Exchange increased by 45%, celebrated Ilgın Commodity Exchange for this success.

Following his speech, TOBB President Hisarcıklıoğlu attended the opening of the Science High School, which was built by Ilgın Commodity Exchange.