The export price of Turkish olive oil soared by 26 percent in dollar terms in the 2020/21 season. While the average export price of olive oil was 2,429 dollars in the 20219/20 season, it increased to 3,644 dollars in the 2020/21 season.
Turkey earned a total of 293 million 885 thousand dollars foreign currency income from olive oil, table olive and pomace oil in the 2020/21 season.
According to the data of Aegean Exporters’ Associations (EİB), Turkey earned 134 million 879 thousand dollars foreign exchange income in return for the export of 44 thousand 22 tonnes of olive oil between November 1, 2020 – October 31, 2021.
Turkey’s olive oil exports were recorded as 110 million 238 thousand dollars in the 2019/20 season, corresponding to 45 thousand 389 tonnes. Despite a 3 percent decrease in this gold liquid exports, it increased by 22 percent on a value basis.
In the table olive season, which ended on September 30, 2021, Turkey exported table olives worth 150 million 142 thousand dollars. When Turkey’s pomace oil export of 8 million 834 thousand dollars in the 2020/21 season is added, the total exports of the Turkish olive sector reached 293 million 855 thousand dollars.
Pointing out that Turkey is an export-dependent industry in the olive and olive oil sector, Aegean Olive and Olive Oil Exporters’ Association (EZZİB) Chairperson Davut Er said that, while entering the 2020/21 season, the lowest yield of the last 11 years for olives and the lowest yield of the last 7 years for olive oil, is experienced.
Despite this, Er noted that its export performance of 88 thousand 430 tonnes in table olive exports and 44 thousand 22 tonnes in olive oil deserves appreciation.