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DAVUT ER: THIS EXCHANGE RATE IS NOT COMPETITIVE FOR OLIVE OIL EXPORTS

Press release…

Er: Our olive oil exporter has become unable to export the product

Davut Er, Chairperson of the Aegean Olive and Olive Oil Exporters’ Association (EZZİB), said, “The 15 percent drop in foreign exchange rates put the exporting companies that made their agreements at the beginning of the season in a difficult position.”

Davut Er noted, “Our olive oil exporter has become unable to export the product, especially due to the decrease in yield because of the climate change.”

Stating that when they look at the export figures for 1 month between January 1-31, Davut Er explained, “We see that our olive oil exports decreased by 61% on an amount basis. Our expectation as the industry is to prevent sharp fluctuations in exchange rates and to ensure stability in the exchange rate.”

“Due to the increase in agricultural input costs such as fertilizers and pesticides in the agricultural sector, the dollar rate below 7.5 TL is not competitive. Therefore, we expect a rate of at least 7.5 TL in the dollar exchange rate,” Davut Er added…

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