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AEGEAN EXPORTERS; OLIVE OIL YIELD NOT TO BE LOW

Press release…

Olive oil yield will not be very low…

Aegean Olive and Olive Oil Exporters’ Association (EZZİB) Board of Directors stated that the determinations that there will be decreases in olive oil harvest around the world in the 2023/24 season are not very realistic.

“There is a yield expectation of over 1 million tonnes in Spain. Italy 450 thousand tonnes, Tunisia 250-300 thousand tonnes, Portugal 200 thousand tonnes, Syria 200 thousand tonnes, Greece 150-200 thousand tonnes. Spain will enter the new season with 350 thousand tonnes of stock. A decrease in consumption of 1 million tonnes may come to the fore due to these price increases worldwide. Today’s prices offer opportunities for the producer’s product to be value-added. In this environment, it is a wrong decision to raise funds for exports, it does not make sense to prevent exports,” said Aegean Exporters.

3-5 percent of small-caliber olives gone to olive oil..

Responding to the news such as “Table olives are pressed and turned into olive oil” recently seen on social media, EZZİB Board of Directors said, “An amount not exceeding 3-5 percent of low-caliber table olives was pressed due to the spike in olive oil prices. However, our table olive harvest in the country’s stocks is sufficient both for the domestic market and for export.”

Underlining that the price of everything from needle to thread has risen in Türkiye, EZZİB Board of Directors noted, “Olive oil prices have increased as much as the real inflation. Our olive oil has not increased in price more than it deserves. Exporting is a process with long-term contracts. It is not possible for us to reflect this fund to the importers, there should be a buffer period or it should not be reflected in the existing contracts.”

Let Afrin olive oil regulate prices in the domestic market…

The EZZİB Board of Directors emphasized that the Turkish olive oil sector should not enter the new season with large stocks and suggested that the olive oil brought from Afrin (Syria) by the Agricultural Credit Cooperatives be offered to the domestic market in order for the prices in the domestic market to follow a more stable course.

Sunflower is not a substitute for olive oil…

EZZİB Board of Directors shared its opinion on the determination that funds were brought to olive oil exports with the approach of “vegetable oil problem will arise when the grain corridor is closed” and added, “There is no relationship between sunflower and olive oil. Sunflower and olive oil are not equivalent to each other. Olive oil juice should not be compared with other oils.”


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