THE GLOBAL WINDOW OF TURKISH FOOD AND AGRICULTURE The Global Window of Turkish Food and Agriculture Sector
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Evaluating the export ban on (bulk) olive oil applied by the Ministry of Trade, Alper Alhat, the chairman of the Akhisar Commodity Exchange, said a certain amount of time is needed to measure supply and demand.
“The price of olive oil was 180 Turkish Liras before the export ban came into effect and now it is over 200 liras,” he said.
“We need to see the exact tonnages in the new season. But it is not in Türkiye’s hands to lower olive oil prices. Olive oil prices in Spain have increased by 100 percent in the last 12 months. There is an opportunity in packaged olive oil. Türkiye should take advantage of it.”
Alhat pointed out that this year’s yield in Akhisar, Türkiye’s western province Manisa’s district, remained at 30 percent compared to last year.
“There is more than a 50 percent drop in demand in Türkiye. The drop in demand will prevent prices from rising. If we cannot prevent the drop in demand, the efforts we have made so far to promote olive oil will be in vain.”
Alhat noted that the prices of olive oil in the markets in Türkiye fluctuate a lot.
“They sell olive oil at the old prices in the markets and they sell the remainder of the products stocked in their warehouses,” he said.
“It is possible to find olive oil in the price range of 175 liras. In the near future, the price on the shelves will rise above 200 liras. The farmers need to be supported,” he added.
Türkiye’s olive oil exports to Spain boosted 27 times in the first six months of this year after the negative effects of drought.
According to the Turkish Exporters’ Assembly (TIM), Türkiye’s olive and olive oil exports soared by 190 percent to 560 million dollars in the first six months compared to the same period last year…
