VAT on food will decrease, exports will be restricted Food Committee; It will take measures such as the rearrangement of taxes, export restrictions for some products, and purchase guarantees for some. Stock and market follow-up will be done actively.
After the instruction of President Recep Tayyip Erdogan to find a solution to the increase in food prices, the institutions take action. According to the information obtained, the Food Committee decided to meet. TESK President Bendevi Palandöken brought up the complaints about the exorbitant price increases in food recently, in his meeting with President Recep Tayyip Erdogan. President Erdogan also gave instructions to intensify inspections on the issue and to take certain measures. Following this instruction, the Food Committee is expected to meet on Thursday or Friday. Measures that can be taken against the exorbitant price increases seen in some products will be discussed at the meeting.
The main agenda of the Committee; During the pandemic process, high price increases in agriculture and food products, where demand increased, will be prevented. Within the "cheap consumption mobilization", measures will be taken on product basis. Steps such as rearranging taxes, limiting exports for some products, and granting purchase guarantees for critical products will be on the table. In the upcoming period, it will be ensured that stock and market follow-up will be done effectively.
FROM OIL TO FOOD
Production, trade, stocking, distribution, measures to be taken against sudden price fluctuations and structural solutions to reduce costs will be evaluated at the meeting. While it was announced that 270 products were closely monitored at the previous Food Committee meeting, it is expected that steps will be taken for products such as olive oil, sunflower oil, baby food and eggs, especially in the last few days.
EXPORT BASED ON NEED
Last year, products such as lemon, onion and potato, whose need increased due to the Covid-19 epidemic, were subject to export permission, and at this meeting, product-based needs analysis will be made to evaluate which products require an export permission. The Food Committee includes Central Bank President Naci Ağbal, Treasury and Finance Minister Lütfi Elvan, Trade Minister Ruhsar Pekcan and Agriculture and Forest Minister Bekir Pakdemirli.
Source: Newspaper Turkey