"Kılınç ve saban; Bu iki fatihten birincisi, ikincisine daima yenildi."


History of the Commodity Exchange Market

Turgutlu Commodity Exchange Market was founded on 26.Oct.1968, and its first members were Hüseyin Aykuta, Hilmi Canseven, Halil Kale, İbrahim Tarzan, Hasan Özkızılcık, Hüseyin Karagözlü, Mehmet Göbekli, Veli Tosuner, Hasan Baysallı, Abil Çokgüreşçi. The Market started its services in its building next to what is now the Health Center No4 in the Koza Pazarı environs. Later, a new building site belonging to the Municipality in Hurriyet Square was assigned to the Market by the Mayor - Dr. Huseyin Orhan. Here, the Market constructed its Operation Building using its own sources and continued its operations here until 1994. It later moved to the recently opened Tarım Ürünleri ve Gıda Carşısı (Agricultural Produces and Food Market).

Operations and Job Definition

The definition of the Commodity Exchange Market;
According to the article 28 of law 5174 related to Chambers, Commodity Market and Stock Exchange Union (TOBB), Commodity Exchange Markets are corporate foundations responsible for the purchase and sale of goods mentioned in that law, along with determining, registering and declaring the prices of these goods. When the word Stock Exchange is mentioned, the first thing that comes to mind is the security fund. However, there are certain distinctions between Stock Exchange and Commodity Exchange Markets. Commodity Exchange Markets are foundations with Administrative and Financial Liberty, the boundaries of which are defined within the related laws. In other words, they are foundations creating their own sources as well as sources for other public institutions without causing any financial burden to the government. They are administered by assemblies elected among their own members. With this characteristic, they are indispensable components of any independent democracy. Commodity Exchange Markets are, at the same time, important segments of market economy, as the price of Agricultural Products are determined according to the law of supply and demand.

The Jobs of the Commodity Market

The jobs of the Commodity Market are defined by the law 5174 of the Chambers, Commodity Market and Stock Exchange Union as follows;
  • Organizing and Registering the Purchase and Sales of products in the Market
  • Determining and Declaring the price of the products on a daily basis
  • Defining general regulations to implement with the approval of the Commodity Market in the case of a disagreement between the seller and buyer, as well as their responsibilities for dispatching and receiving and payment, liquidation conditions along with effective conditions on the price of goods.
  • Observing both domestic and international markets and prices and informing the members of them, assisting its members on e-commerce and internet network.
  • Preparing and giving approvals for the documents stated in article no51.
  • Establishing laboratories and technical offices and/or taking place in those already established for the purpose of determining the types and quality of products related to the Commodity Market.
  • Determining the practices, custom and common behaviors within their own operational region, presenting them to the Ministry for approval and declaring them.
  • Presenting offers, requests and applications to State authorities on the matters related to Commodity Market operations, pressing charges for the benefits of all or some of its members,
  • Observing any agreements, decisions or actions of such nature that may have an upsetting effect on competition and informing the authorities in the presence of such occurrences.