THE GLOBAL WINDOW OF TURKISH FOOD AND AGRICULTURE The Global Window of Turkish Food and Agriculture Sector
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In the first half of the year, olive and olive oil exports fell 83 percent to 78 million dollars. The sector is demanding the complete lifting of the export ban after the 50 thousand tonne quota expires on October 31. Because stocks have accumulated around 150 thousand tonnes.
August, 2024…
The export ban in the olive oil sector, which has been in effect since August 1, 2023, was eased last month with a quota of 50 thousand tonnes. However, the 50 thousand tonnes of export permission for bulk and barreled olive oil exports until 1 October 2024 was not enough to eliminate the uncertainty in the sector. Sector representatives want the export ban to be removed completely in order not to affect the renewal process of export contracts with the new season. It is stated that there are around 150 thousand tonnes of olive oil in stocks and the increase in this stock with the new harvest carries the risk of cost and product deterioration. For this reason, it is stated that the uncertainty of the ban on exports should be removed.
While the climate problems experienced in other olive oil producing countries raise product prices abroad, the inability to export thousands of tonnes of olive oil in our country’s reserves continues to cause a significant loss of income and opportunity. With the quota limit decision, not only exporters but also producers are suffering from loss of income as they cannot sell their products.
Emre Uygun, Chair of the Aegean Olive and Olive Oil Exporters’ Association (EZZİB), said that there is currently a lack of demand in the global markets and it is difficult to fill even the quota, adding that there is a serious loss in exports and they want this loss not to increase further…
By Sibel Atik,
Source: economist.com.tr
