The Turks rushed to buy edible oil... Is there a shortage of it? And what does the Ukraine war have to do with it?

Istanbul -

Turkish activists launched the hashtag (AcGozluVatansizlar), which means "greed without a homeland" to comment on rumors circulating in the Turkish street that the country's stock of edible oil is sufficient for only a month and a half.

This marking came after a previous hashtag entitled (YagFiyatlari), which means “oil prices”, appeared on the Twitter platform in Turkey, following official announcements that the country’s stock of sunflower oil may not be sufficient until mid-April next due to the Russian-Ukrainian war.

During the past week, the Turks flocked to buy edible oil from stores and food stores in order to store it in their homes, in anticipation of its alleged loss from the markets.

The tweeters commented on the queues that flocked to buy oil that they presented uncivilized images, and opened the door for merchants to practice greed and raise prices.

What is the truth about the lack of edible oil in Turkey?

What is the origin of the rumors about that?

How does the Turkish market deal with it?

How did the Turks comment on it?

What is required to deal with the oil crisis?

What are the prospects for solving it?

The origin of the rumor

The rumor about the loss of frying oil came out from one of the TV channels affiliated with the Turkish opposition under the heading that Turkey's stock of oil is barely enough for a month and a half, which created a state of panic among the citizens, who went to grocery stores and stores to buy large quantities of it.

According to observers, some stores withdrew their supplies and stockpiled them with the aim of exploiting the expected rise in oil prices to convince consumers of the scarcity of oil stocks, which prompted them to flock to buy it in queues. Activists commented on them by saying that "the war in Ukraine, but its effects are in Turkey."

data and procedures

However, Turkish officials refuted what the channel said, stressing that their country's stock of oil is sufficient for six months, and revealed that Ankara signed future oil purchase contracts after the six months had passed.

To mitigate the rise in oil prices due to the increasing demand for its purchase, the Turkish government canceled customs duties imposed on vegetable oils until June 30.

Turkish Finance Minister Nureddin Nebani said in statements last Monday that the oil stock is sufficient for Turkey until next July, pledging to implement a campaign to hold accountable those who manipulate oil prices, hoard and monopolize it.

As for the Turkish Minister of Agriculture and Forestry, he stressed that there is no truth to the rumors about the insufficient stocks of sunflower oil, noting that Ankara has sufficient quantities of reserves.

The Turkish General Directorate of Maritime Affairs announced that 4 ships loaded with sunflower oil set off from Russian ports to Turkey, and the first of them is expected to arrive at Mersin port on the Black Sea on March 15, carrying 6,099 tons of oil.

Turkey is moving to change the sources of its imports of sunflower oil so that Bulgaria, Moldova, Romania and Argentina replace Russia and Ukraine, in order to avoid the repercussions of the war between the two countries on Turkey's oil imports.

According to official data from the Turkish Vegetable Oil Manufacturers Association, Ankara annually produces 1.5 million tons of sunflower oil, which constitutes half of the local market's need of 3 million liters.

consumer's behaviour

An expert in investments in Turkey, Khaled Diyarbakirli, said that what is remarkable about the market crisis in Turkey is related to consumer behavior, which has become suffering from a lack of confidence and ease of raising rumors without verifying them, indicating that this behavior has negative repercussions on the economy.

Diyar Bakrli explained to Al Jazeera Net that what is currently required is to work to raise consumer awareness and reassure him about the market situation, and to clarify the repercussions of international crises from Corona to the Ukrainian war, which has affected most countries in the world and Turkey, which is at the heart of the storm, according to his expression.

He believed that the solution to such behavior lies in a joint work between a transparent government performance that raises consumers' confidence, citizens' awareness and appreciation of the current conditions and managing their daily living, without forgetting the merchants who should be responsible, and if they do the opposite, the state must control them.

Turkey imports more than 65% of its needs of sunflower oil from Russia and Ukraine, and the Azov Sea between the two warring countries is the most important starting point for loading oil exports to Turkey, and the proportion of Russian oil exports to Turkey last year was 50.6% of Turkey's total oil imports, compared to 14.6% from Ukraine, 11.5% from Bulgaria, 7.5% from Moldova, 6.3% from Romania and 9.5% from other countries.

Turkish businessman Khaled Diyarbakirli explained that it is necessary to work to raise consumer awareness and reassure him (communication sites)

plentiful stock

For his part, the expert in Turkish investments, Yusuf Yeni Turk Oglari, confirms that the oil is still fully available in all sales centers or even on electronic sales applications, pointing out that the quest of some to ride the “trend wave” regardless of its health has exacerbated the citizens’ rush to buy oil. .

Uglari explained that there is a discrepancy in performance between oil traders and owners of shops that sell it, some of whom took advantage of the crisis and dealt with increased demand as an opportunity to increase profits by raising prices, while others took it upon themselves to educate consumers and take the initiative in calming the market.

In an interview with Al-Jazeera Net, he indicated that some shop owners refused to sell more than one package for each citizen, to limit the interruption of this substance and its accumulation by part of the citizens, while other merchants announced giving free oil bottles (5 liters) with each product purchased from Their stores to counter the rumor of a shortage of oil.

demands and solutions

Yeni Turk-Uglari believes that educating citizens about the economic damage from storing foodstuffs and its direct impact on the rest of the people and on the prices of these materials, represents the most important steps for dealing with the crises of the local market.

It also calls for the state to implement inspection campaigns on quantities and prices, especially on shop owners and merchants who try to store this substance in their warehouses in the hope of reaping more profits, and to impose monthly quotas of oil for each family to prevent storage and ensure the provision of this substance to all citizens.

He says that the government should launch incentive programs such as granting free land or complete tax exemptions for the cultivation of sunflower inside Turkey in larger quantities than are currently cultivated, at least to reduce dependence on this material from outside Turkey.

Oglari believes that traders should search for alternative markets to secure the large quantities of oil imported into the country, after the kitchens of consumers were saturated with the oil that was purchased and stored during this crisis.