TÜRİB Launches Agricultural Futures Market
· AA Tarım & Ekonomi
The Turkey Products Specialized Exchange (TÜRİB) is launching a futures market with wheat and corn contracts to minimize price risks in the agricultural sector.
A New Era in Agricultural Futures Market
Within the scope of the TÜRİB Futures Market Introduction Meeting held at the İzmir Commodity Exchange, the management of price risks in the agricultural sector through organized markets was discussed. Speaking at the opening, İzmir Commodity Exchange Chairman Işınsu Kestelli made the following statements:
"For a more competitive agricultural sector, we must better manage price risks. Today, an important step in this process is being taken in İzmir. Our task from now on is to develop this market together, explain it correctly, and bring it together with the real needs of the sector."
First Hub for Wheat and Corn is Konya
Ali Kırali, General Manager of TÜRİB, who explained the technical operation of the new system in the panel at the meeting, stated that they will start with wheat and corn products in the first phase of the market. Explaining the details of the system, Ali Kırali said:
"We plan to start primarily with wheat and corn products. ELÜS-based contracts are designed for physical delivery, and index-based contracts for cash settlement. Konya is considered to be the initial physical delivery point due to its central location for grain production and logistics. We have created a flexible infrastructure that allows for future expansion of underlying assets and delivery points."