The market project, to which President Erdogan attaches great importance, announced a loss of 249 million Turkish Liras (TL). The market side, which constitutes the marketing leg of Agricultural Credit Markets, closed the year 2021 with a loss of 249 million TL. The balance sheet of Agricultural Credit Marketing Incorporated Company for the year 2021 has been published. It was noteworthy that the loss of 249 million TL was announced in the balance sheet, which was published for the first time.
IT TURNET OUT THAT FOOD PRODUCTS ARE NOT CHEAP THAN OTHER MARKETS
Agricultural Credit Markets was established with the aim of purchasing the farmer's product directly and delivering it to the consumer at a more affordable price. While Agricultural Credit Markets reached 700 branches across Turkey by the end of 2021, there were criticisms that the products sold in Agricultural Credit Markets were not below the market prices, on the contrary, many products were more expensive. The fact that many products sold in Agricultural Credit Markets were procured from intermediary companies also led to questioning the purpose of its establishment.
PRESIDENT DID SHOPPING FROM AGRICULTURAL CREDIT MARKETS
While President Erdoğan evaluated the Agricultural Credit Markets as a market project that sells products at affordable prices in response to increasing food prices, it turned out that the products sold were no different from other market chains, and even more expensive for some products. The fact that the Agricultural Credit Cooperatives, which are farmer organizations, quit their main job and enter the grocery business, causes the resources of the farmer organization to be used not in agricultural activities, but in marketing. While Agricultural Credit Markets could not achieve the intended policies regarding food prices, its annual loss statement of 249 million TL also revealed that the marketing project does not serve the farmer and the consumer.
120 MILLION TL OPERATING LOSS
As it is known, Agricultural Credit Markets was divided into two companies at the end of 2020 as supply and marketing pillars. The markets, which constitute the marketing leg, announced a loss of 249 million TL in 2021. When the details of the loss in the balance sheet are examined, It was noteworthy that 120 millions TL were operating losses. Again, the fact that there is an interest expense of 138,5 million TL in addition to the operating loss reveals that the Agricultural Credit Markets work for banks, not citizens. According to these balance sheet results, Agricultural Credit Markets, which has 700 markets throughout Turkey as of the end of 2021, has lost 357 thousand TL per market.
AGRICULTURAL CREDIT MARKETS SERVE BANKS, NOT CITIZENS! 120 MILLION TL OF DAMAGE ARISED FROM BAD MANAGEMENT, 138,5 MILLION TL FROM INTEREST!
When the details of the loss in the balance sheet are examined, it is noteworthy that besides the operating loss, there is also high interest expense. While 120 million TL of the 249 million TL loss was due to the main activity, that is, to bad management, 138,5 million TL was due to interest expense. It turned out that the Agricultural Credit Markets, which were supposedly established to provide cheap food to the citizens, serve the banks, not the citizens, due to the high interest expense.
IT DOES NOT SERVE TO FARMERS AND CONSUMER
The fact that the Agricultural Credit Cooperatives, which are farmer organizations, quit their main job and enter the grocery business, causes the resources of the farmer organization to be used not in agricultural activities, but in marketing. While Agricultural Credit Markets could not reveal the intended policies regarding food prices, its annual loss statement of 249 million TL also revealed that the marketing project does not serve the farmer and the consumer.