This paper investigates the dynamics of neoliberal agrarian restructuring within the Turkish sugar industry, focusing on the 2018 privatization of the Alpullu Sugar Factory. The analysis examines the transformative impact of market dependence and land commodification on relationship of farmers with the agricultural sector. Specifically, it focuses on two significant neoliberal shifts that have altered the dynamics of farming. First, the withdrawal of state support in agricultural markets prompted farmers to diversify their income streams, leading to a transition from sugar beet cultivation to alternative crops and contemplation of urban migration. Second, in the 2000s, farmers, grappling with declining agricultural revenues, increasingly relied on private bank credits as a means of financial security. This shift was propelled by changes in agricultural policy regulations and the dissolution of state‐sponsored credit systems. Employing a blend of qualitative and quantitative research methods, this study elucidated these complex transformations and their profound impact on agrarian livelihoods, land ownership shifts, production strategies and market relationships. The research revealed the complex interplay of social, economic and historical dynamics steering the trajectory of the Turkish sugar industry, providing valuable insights into neoliberal restructuring.