This is not a joke! Price hike to oil prices once again

This is not a joke! Price hike to oil prices once again
Date: 14.1.2021 15:00

Oil prices, which have doubled its price in a year, will soon get a hike another 20 percent.

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Oil prices, which have increased by more than 100 percent in a short time like a year, come with another 20 percent increase. While the record-high rise in sunflower oil prices annoyed the citizens, a statement came from Tahir Büyükhelvacıgil, the President of the Vegetable Oil Industrialists Association.
"Not only the consumer but also the producer is in trouble"
Industrialists who bought a ton of crude oil from abroad for $700 a year ago now pay $1,325 for the same product. 
The increase in foreign currency prices is another aspect of the business. While the price of 5-liter sunflower oil, which was around 30 liras in the first quarter of last year, rose up to 80 liras.
Tahir Büyükhelvacıgil, Chairman of the Vegetable Oil Industrialists Association, who made a sectoral assessment for 2020, said that the last cost increases in raw materials have not yet been reflected in the shelf prices and a price of 20 percent in the coming days. He said he expected more increase.
The industrialist does not increase the price... Production meets half of the consumption
Tahir Büyükhelvacıgil said that despite the 2.5 million tons of sunflower need our country needed last year, the production was only 1.3 million tons, adding that the price of sunflower, which was 2,500 lira per ton, reached 4 thousand 950 lira, and the crude oil price, which was 5,300 lira, reached 10 thousand lira. Emphasizing that the cost increased from $700 to $1,325, Büyükhelvacıgil said, "Our consumers should know this. It is not oil industrialists who increase the price here. "As the price of raw materials increases, the product price increases."
Tahir Büyükhelvacıgil, President of the Association of Vegetable Oil Industrialists (BYSD), at the press conference regarding the 2020 assessment for the sector and its predictions in 2021, pointed out that the increase in domestic production, self-sufficiency and climate change issues in agriculture during the epidemic of the new type of coronavirus (Covid-19) drew. Turkey's top imported products, indicating that takes place between Büyükhelvacıgil of oilseeds, said that increasing production of these products. Büyükhelvacıgil pointed out that although there was a decrease in sunflower yield and 2.5-3 million tons was needed, 1 million 330 thousand tons of production was made in 2019, continued as follows:


"The lack of this product continues to be a problem. Last year, core prices came up to 5 thousand 400 liras per ton, and the price of crude oil exceeded the limit of 10 thousand lira per ton. This is not only due to the deficiency in our country, but also due to drought in producers such as Russia and Ukraine, there was a 20-25 percent decrease in production. While the price of crude oil was around 700 dollars per ton, it has reached the level of 1325 dollars as of today. The fact that Russia and Ukraine did not export goods and the prices increased there also affected us here. For many years, the price of 5 liters of oil in this country did not exceed 25 liras, today we have reached up to 75 lira."


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