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“Table olive exports soared to 114 million dollars in the 2023/24 season”

Press release…

Davut Er, Head of the Aegean Olive and Olive Oil Exporters’ Association (EZZİB), said that when they look at the data of the current 2023/24 season, they see that as of 31 March 2024, Türkiye’s table olive exports soared by 18 percent in terms of amount compared to the previous season, from 96 million dollars to 114 million dollars.

As of 31 March 2024, when we look at the first 5-month data of the olive oil export season, we regret to see that it decreased by 62% on quantity basis from 81 thousand tonnes to 31 thousand tonnes. In terms of value, it decreased by 36% from $358 million to $228 million.

“If the restrictions imposed on bulk and barreled olive oil exports continue, it will cause irreparable damage to our sector. As of 1 August 2023, additional measures were introduced for the export of bulk and barreled olive oil and the export of these products was restricted until 1 November. On 17 October 2023, the restriction was extended indefinitely,” Er said.

Pointing out that Türkiye entered the 2022/23 season with approximately 50 thousand tonnes of olive oil stock, he explained, “Our yield was calculated as 380 thousand tonnes. Considering the 50 thousand tonnes of olive oil coming from Afrin (Syria), we have around 500 thousand tonnes of olive oil. When we take into account that we have 175 thousand tonnes of domestic consumption and 150 thousand tonnes of exports, we entered the 2023/24 season with approximately 140 thousand tonnes of excess stock. If we add 140 thousand tonnes of stock, 185 thousand tonnes of yield and 50 thousand tonnes of olive oil coming from Afrin in the 2023/24 season, altogether we have 375 thousand tonnes of olive oil.”

“When we anticipate that there will be 100 thousand tonnes of exports and 175 thousand tonnes of domestic consumption in the 2023/24 season, we will enter the 2024/25 season with a minimum stock of 100 thousand tonnes,” he added…

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