Turkish Olive Oil exporters struggling to remain competitive in US

The Turkish olive oil exporters have outstanding agreements with major retailers in the United States. However, they face significant challenges in keeping their prices to the agreed-upon levels in light of the significant increase in their transport costs from Turkey to the United States.

The exporters only increased their sales price by a small percentage in order to keep their trade running and not to damage their relationship with the retailers. Hence they were forced to absorb the majority of the transport cost increase into their own profit margins.