Table olive producers stated that there should be a restriction on the export of bulk olive oil to Europe, especially to Spain, and stated that otherwise the prices of table olives and olive oil will continue to increase.
Yagmur Milk, Olive and Meat Products Industry. Trade Ltd. Sti. Manager Mehmet Fatih Sumeli told Anadolu Agency (AA) that there is a 60-70% loss of yield in olive trees compared to previous years due to drought in Spain, Italy and France.
Stating that these countries buy olive oil in bulk from other producing countries to compensate for the loss in question, Sumeli said, “Due to this increase in demand, olive oil for oil, whose price is around ₺15 in Turkiye, is now around ₺35. In order not to lose their leadership in the world branded olive oil market, these countries, especially Spain, are collecting olive oil from all sides. Unfortunately, in our country, companies that collect products from the shelves of national and local markets and export packaged products to bulk export products, unfortunately, do not have the opportunity to export these products. “We urgently need to close our exports and release only small-packaged and locally-branded products. Otherwise, when olives for oil cost so much, no producer would expect to sell them as tableware and would squeeze out the oil and sell it for a higher price.”
Sumeli pointed out that there may be a loss of yield in the country in September, the next olive season, and said:
“In such a case, if the base price of olives for oil starts from ₺40, in January the price of the cheapest table olives will rise to ₺150 at the retail point, and the large olives will rise to around ₺350-₺400. The price of 1 liter of olive oil can also rise to around ₺350. Exports of olive oil, which have no value or added value to our country, should be closed for the common benefit of all our citizens. If there is no yield loss, it can be opened again until December.”
Pointing out that the stock of olives in the country is decreasing at the moment, Sumeli warned that fake olive oils may be put on the market.
Sumeli stated that the kilogram price of large olives in Turkiye increased from ₺99 to ₺180 in two months, adding that if the situation continues like this, the price will be around ₺250 in September.
“If there is no restriction on exports, there will be no table olives after three months”
Ali Yıldız, Member of the Board of Directors of Ikram Food Inc., pointed out that the prices of olives and olive oil have increased due to exports, and said:
“If no restrictions are imposed on the export of bulk olive oil, there will be no table olives in Turkiye after three months. The reason is that although it is not as much as Europe, olives are very few in Turkiye this year. If urgent intervention is not made, the liter price of olive oil in the markets will rise to ₺300-₺350 and the prices of table olives to ₺400-₺450 in the months of January-February.”
Source: AA / Prepared by Irem Yildiz