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céréales, main, niger
PROPARCO has allocated a new loan to Tiryaki Agro, Turkey’s main company for trading in raw materials, to support it in the development of its organic activity. This is PROPARCO’s second operation with Tiryaki, following a first USD 15m loan allocated in 2012.
Client presentation

Tiryaki Agro Gida Sanayi Ve Ticaret A.S. is a second generation family-run company set up in 1965. It started working in the primary processing industry in the 1980s. Today, it is the largest company for trading in agricultural raw materials in Turkey. The activity initially focused on the domestic market for legumes and has recently experienced very strong growth. It has rapidly diversified, with a portfolio of 25 products (legumes, cereals, oil and dried fruits) and has become highly internationalized, by sourcing and distributing in some twenty countries.

Project description

This financing is mainly earmarked for the development of Tiryaki’s “organic” segment, which has major growth prospects in view of global demand.

Project impact

This new project will have significant impacts on development. Firstly, it will have a major impact on markets and production structures: the project will support local organic production initiatives and local sourcing in agricultural products (+27% of purchases from local producers over the next 5 years) in order to meet increasing domestic and global demand for organic products (oil, legumes and nuts).

The development of Tiryaki’s activity will also have positive knock-on effects on the environment, while Turkey suffers from a problem of soil regeneration given the abusive use of chemical fertilizers.

Finally, it is estimated that the project will create or maintain 650 jobs in the company over the next 5 years and will support Tiryaki’s training for its suppliers and partners (ECOCERT+ organic certification).

23/03/2018
Date of signature of the project
Turkey
Location
Financing tool
12 245 897 Euros
Amount of funding
Loan of USD 15m
Financing details
Tiryaki Agro Gida Sanayii ve Ticaret A.¿
Client
CES