Licenced Warehouse Wastage Tarıff Application

1. WASTAGE 

It is essential that products delivered to licensed warehouses for storage are returned in the same quantity and quality. However, depending on the nature, variety, type, storage duration and conditions, climate or regional factors, or other influences, there may be a natural wastage (reduction in the weight of the product). 

For products stored in licensed warehouses, when the relevant product is traded in our Exchange, a wastage deduction is made based on the transaction according to the principles determined by the Republic of Turkey Ministry of Trade due to wastage caused by these factors. 

During the physical delivery of the product from the licensed warehouse, the wastage amount calculated according to the wastage tariff, which has not been previously deducted, will be subtracted from the product quantity by the licensed warehouse operator, and the product will be delivered accordingly. 

 

2. WASTAGE TARIFF 

 Wastage rates are determined by the licensed warehouse wastage tariff approved by the Ministry of Trade (Ministry) and published on the Ministry’s website. 

The tariffs collected by our Exchange are provided below: 

  • Licensed Warehouse Wastage Tariff for Grain, Legumes, and Oilseeds 
Storage Duration

Wastage Rate (%)

Daily Wastage Coefficient

Up to 365 days

0,0035

0,000009589041

The wastage tariff is applied for a period of 365 days starting from the date of issuance of the first electronic warehouse receipt (EWR) created for the ISIN defined at the beginning of each storage period for the relevant product type and class. 

The wastage tariff applies to products stored from the date the tariff is published on the Ministry’s website. For products already in the warehouse before the tariff’s effective date, the tariff is applied starting from the publication date. 

  • Licensed Warehouse Wastage Tariff for Hazelnuts 
Criteria DurationWastage Rate (%)
For All Hazelnut Classes in All Hazelnut Quality Criteria Approved by the Ministry of Trade0-1 Year0,5

3. HOW CAN WASTAGE FEE CALCULATED? 

Components of Calculating Licensed Warehouse Wastage Fee: 

Wastage Tariff Start Date 

02.09.2022 

EWR Amount 

The amount of EWR subject to the transaction (kg). 

Transaction Price 

The weighted average price information of the transaction. 

Wastage Days: 

The number of wastage days calculated based on the first issuance date, storage start date, and the effective date of the wastage tariff. 

Wastage Rate: 

The rate specified in the Wastage Tariff announced by the Ministry. 

Calculation for a Single Period

2 Calculation for 2 Periods (Hazelnut)

Licensed Warehouse Wastage Fee

(EWR Amount) x (Transaction Price) x (Wastage Rate) x (Wastage Days) / 365

(EWR Amount) x (Transaction Price) x (Wastage Rate = 0.005) x (Wastage Days = 365)* / 730

+

(EWR Amount) x (Transaction Price) x (Wastage Rate = 0.01) x (Wastage Days)* / 730

(EWR Amount) x (Transaction Price) x (Wastage Days) x (Daily Wastage Coefficient)

 (*) The wastage days for the first period (0-1 year). For products with a total of 365 days or more of wastage days, 365 is used.  

(**) The wastage days for the second period (1-2 years). 

Wastage Amount* 

(Daily Wastage Coefficient) x (Wastage Days) x (Product Quantity) 

(*)This is the calculation of the wastage amount to be deducted from the product quantity and delivered during the physical delivery of the product from the licensed warehouse, which has not been previously deducted. 

4. HOW TO MAKE LICENSED WAREHOUSE WASTAGE PAYMENT? 

The wastage amounts accrued up to the day of sale, calculated according to the wastage tariff, are deducted from the sale price by Takasbank and transferred to the account of the relevant licensed warehouse at Takasbank. 

During the physical delivery of the product from the licensed warehouse, the wastage amount calculated according to the wastage tariff, which has not been previously deducted, is subtracted from the product quantity by the licensed warehouse, and the product is delivered accordingly. 

 
5. WHAT HAPPENS IF THE LIMITS SET IN THE WASTAGE TARIFF ARE EXCEEDED DURING THE DELIVERY OF THE PRODUCT FROM THE LICENSED WAREHOUSE? 

If the cost of the product that is damaged, lost, degraded in quality, or exceeds the limits set in the wastage tariff cannot be covered by insurance, upon the written request of the client, the licensed warehouse operator will either deliver a product of the same quality and quantity within seven business days from the date of the request or pay an amount that is 5% above the calculated cost based on the weighted average prices of the same type and class of products in the Exchange during the last five trading days before the request date, or, if prices were not formed during those days, the weighted average prices in the Exchange during the last thirty days before the request date. 

In this case, the product receipt for the relevant product is canceled, and the product is removed from the licensed warehouse. If no price is formed in the Exchange or in cases deemed necessary by the Ministry, the price to be used will be determined according to the method established by the Ministry. 

 

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