Tough Measures Against Exorbitant Prices and Stockpiling: Record Increase in Fines
In his speech at the Traditional Consumer Awards Ceremony, Trade Minister Ömer Bolat announced new regulations in the fight against exorbitant price increases and stockpiling. Stating that these practices are important steps towards protecting consumers, Bolat stated that the fines imposed in 2024 reached 5 billion TL in total.
Big Increase in Fines
Minister Bolat announced that the measures taken against exorbitant price practices have been increased and the upper limit of fines has been increased to 1 million TL. Stating that stricter measures have also been taken in the fight against stockpiling, Bolat announced that if such violations are repeated three times, the relevant businesses will be sentenced to closure. The upper limit for stockpiling fines was set at 12 million TL.
With these regulations, it is aimed both to protect consumers and to ensure market balance. Bolat said, “We are determined against those who want to gain unfair profit. We will take every measure to protect the rights of consumers.”
Sectoral Penalties of the Competition Authority
The fines imposed by the Competition Authority on various sectors in 2024 also attract attention. The sectoral distribution of these fines, which reached 5 billion TL in total, was as follows:
Food sector 1.7 billion TL
Digital markets: TL 1.3 billion
Health sector 591 million TL
Cement and ready-mixed concrete: 530 million TL
Labor markets: 91 million TL
These fines are considered as an important step to prevent behaviors that may disrupt the market order and to protect the rights of consumers.
Solutions with Consumer Arbitration Committees
Minister Bolat also drew attention to the effectiveness of consumer arbitration committees. In 2024, the problems of approximately 700 thousand consumers, totaling more than 6 billion TL, were resolved without going to court. This process eased the workload of the judiciary and enabled faster and more effective solutions to be offered to consumers.
Bolat said, “Consumer arbitration committees play an important role in seeking rights. Solving problems in a short time increases consumer satisfaction.”
Consumer Protection Strategy
The Ministry of Trade is implementing a comprehensive strategy to ensure that consumers receive quality services at reasonable prices. Bolat thanked producers who respect consumer rights and emphasized that everyone should fulfill their responsibilities in this regard.
Stating that audits and regulations are critical for a sustainable economy, Bolat said that all necessary measures will be taken to maintain market balance.
Sustainable Economy Target
The measures taken to combat problems such as exorbitant prices and stockpiling not only protect consumer rights, but also aim to ensure economic sustainability. Minister Bolat stated that these regulations will increase market confidence and create a fairer trade environment.
The determination of the Ministry of Trade creates a deterrent effect for market players and reassures consumers.
