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Press release…
“The 20 cent fund in olive oil exports should be removed as soon as possible”
While the Turkish olive oil sector focused on exports in order to convert over 500 thousand tonnes of olive oil into added value in the 2022/2023 season, it was faced with a 20 cent fund brought to bulk and barrel exports.
With the Presidential Decision Amending the Decision on the Support and Price Stabilization Fund, numbered 7391, which was published in the Official Gazette dated 19 July 2023, a fund cut was introduced for olive oil exports.
With the decision, it was stated that 20 cents per kg of Support and Price Stabilization Fund will be deducted in the export of olive oil in bulk and in barrels.
We have enough olive oil for both export and domestic market…
The Aegean Olive and Olive Oil Exporters’ Association (EZZİB) Board of Directors stated that Turkey’s olive oil assets are sufficient for both the domestic market and exports, while opposing the funding decision, it argued that free market economy conditions should continue in the olive oil sector.
EZZİB Board of Directors underlined that the fund decision, which will increase the costs of exporters by 6 percent, was wrong and demanded that it be removed as soon as possible.
In the written statement made by the EZZİB Board of Directors; “Türkiye entered the 2022/23 season with 50 thousand tonnes of olive oil stock. Our harvest has been calculated as 421 thousand tonnes. Considering the 30 thousand tonnes of olive oil coming from Afrin, we have an olive oil asset of 501 thousand tonnes. When we predict that we will have 190 thousand tonnes of domestic consumption and 150 thousand tonnes of exports, we will enter the new season with 160 thousand tonnes of stock. There is no situation that would require panic in Türkiye’s olive oil supply,” it said.
In the statement, which emphasized that there was no problem in the supply of table olives and olive oil in the markets across the country, it was also noted that it was wrong to evaluate boutique olive oil prices as if they were general prices in the sector.
“There are increases in olive oil prices, as Turkish olive oil exporters, we exported 124 thousand 791 tonnes in the 8-month period of the 2022-23 season. There is already a decrease in the monthly course of exports. At the end of the season, our exports will remain at the level of 150 thousand tonnes. If prices start to come back in the next season, we will regret the funds we have brought to olive oil exports today,” it concluded…
