`Turkey’s Olive Oil Exports Fall by Half

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Turkey’s Olive Oil Exports Fall by Half

Jan. 12, 2015
Isabel Putinja

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Turkey’s olive oil exports have declined by 52 per­cent in the past two months when com­pared to the same period last year.

Exports are down because the country’s olive oil pro­duc­ers are hold­ing on to their stocks with expec­ta­tions that prices will rise fol­low­ing the poor har­vests in Italy and Spain due to bad weather and pest infes­ta­tions, and hopes they will be able to cash in on high inter­na­tional demand for olive oil.
See more: Com­plete Cov­er­age of the 2014 Olive Har­vest
Accord­ing to fig­ures released by the Aegean Olive and Olive Oil Exporters Asso­ci­a­tion (EZZİB), Turkey exported 3,600 tons of olive oil in the last two months, com­pared to 7,600 tons dur­ing the same period last year, a decline of 52 per­cent.

While Turkey’s olive oil pro­duc­ers wait for prices to rise, they do not want to lose their for­eign mar­kets. Our pro­duc­ers are now export­ing their prod­ucts for almost noth­ing just not to lose their mar­ket share to their strong Span­ish and Ital­ian com­peti­tors,” reported Gürkan Ren­kl­i­dağ, the head of EZZİB, to Hür­riyet, one of Turkey’s major news­pa­pers.

Dur­ing the 2013/14 crop year, Turkey was the fourth-largest olive oil pro­ducer, with a 16.7 global share of pro­duc­tion. The gov­ern­ment hoped to boost Turkey’s rank­ing by intro­duc­ing incen­tives in the form of sub­si­dies and tax breaks. For the cur­rent 2014/15 crop year, esti­mates by the Inter­na­tional Olive Coun­cil (IOC) put Turkey’s out­put at 190,000 tons, the same as the pre­vi­ous year.


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