Ulku Ozeren

Commodity Exchanges are public institutions with legal personality affiliated to the Ministry of Trade, established to carry out the purchase and sale of agricultural products in its quotation and the determination, registration and announcement of the prices formed in the exchange. Commodity exchanges, the supreme organisation of which is the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), are established in provinces where commercial needs require it, with the positive opinion of TOBB and the approval of the Ministry of Trade. Since 1891, Izmir Commodity Exchange (ICE), which has 1902 members from 19 sub-professional groups, has been responsible for registration of more than 100 local agricultural products, including cotton. Given the fact that ICE is the oldest and most experience organizations in İzmir and Türkiye, which works in agricultural sector, the effects of climate change on cotton also affects the cotton production.