Home / Agricultural Economy / Agribusiness / “Restrictions blocked the olive oil market!”

“Restrictions blocked the olive oil market!”

Press release…

Davut Er, Chairperson of Aegean Olive and Oil Exporters’ Association (EZZİB) said that four export restrictions have been imposed on olive oil in the last three years and these restrictions had absolutely no positive effect on the market as intended.

Pointing out that they were not effective enough in slowing down the price hikes, he said, “On the contrary, they put producers and suppliers into expectation and blocked the market even more as there was not enough supply of goods. Prices have soared by around 15-20 percent since the restrictions were imposed. Olive oils kept in warehouses because they could not be exported were subjected to deterioration due to hot weather and unfavourable storage conditions, acidity and other valuable specifications were damaged, high quality extra virgin oils were transformed into refining oils, resulting in a 30 percent loss in value.”

“This restriction did not lead to any positive results both in the domestic market and exports and if it continues to be applied, it will cause irreparable damage to our sector. As a matter of fact, when we look at the data for the first 2 months of the 2023/24 season, we see that our exports in November and December decreased by 75 percent on a quantity basis compared to the previous season, from 31 thousand tonnes to 8 thousand tonnes,” he added.

“I regret to say that we have come to the point of losing many markets that were gained under difficult conditions. In order to prevent further damage to our exports and our sector, these restriction decisions should be reviewed as soon as possible. The continuation of free market economy conditions should be ensured and export restriction practices should be terminated. While our main goal is to ramp up exports with high value-added packaging, our companies have to meet different demands from importers,” he concluded…

About İsmail Uğural

Check Also

Türkiye becomes the new production base of coffee!

While countries known as the homeland of coffee have experienced production losses exceeding 30 percent …

Leave a Reply

Your email address will not be published. Required fields are marked *