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FEVZI CONDUR: WE DON’T EXPECT A SERIOUS SUPPLY PROBLEM IN OLIVE OIL

Despite the expected decline in production, Türkiye’s olive oil producers do not anticipate serious supply problems thanks to olive oil in the stocks.

The national production is forecast to drop from 400,000 tonnes last year to around 150,000 tonnes in 2023, according to Fevzi Çondur, the head of the Aydın Commodity Exchange.

Fevzi Çondur

Poor olive harvest and resulting low olive production is not a unique problem to Türkiye. The world’s largest olive oil producers, Spain and Italy, also saw a sharp decline in the production last year, blaming largely on bad weather.

Olive oil production in Spain plunged from 1.6 million tonnes to 600,000 tonnes, while in Italy, output was down from 500,000 tons to less than 100,000 tonnes, according to Çondur.

Çondur, also said that the price of olive oil on the market shelves may give some clues about the quality of the product, noting that “too low prices should be met with some suspicion.”

Tariş Olive and Olive Oil Association has set the olive oil purchase price at 295 liras per litre for this season, up from the previous season’s 81 liras.

The olive oil bought from Tariş should be sold at 320 liras in the markets, according to Çondur.

“If a five-litre box of olive oil is sold for 500 liras, there must be fraud here.”

“What consumers purchase at this price is certainly not olive oil, but some sort of product with chemicals added to it,” he added…

About İsmail Uğural

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