Turkey’s olive sector targets record exports of $1 bln

Published 2024년 12월 30일

Tridge summary

Turkey's olive sector is aiming for a record production season, with targets to produce 475,000 tons of olive oil and 750,000 tons of olives in the 2024/25 season, as part of a larger goal to reach a value of $1 billion in olive oil and olive exports. The main markets for these products are Spain, Italy, and the U.S., with Germany, the U.S., Romania, and Iraq being the main olive recipients. The industry is recovering from export restrictions, including a recent ban on wholesale olive oil exports, which caused significant financial losses. The government's efforts to stabilize the domestic market have limited export opportunities for Turkish producers and exporters, despite optimism about increased international sales due to record production volumes.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As Turkey’s olive sector is expected to set a new production record this year, authorities have raised the bar for olive oil and olive exports from the country, setting a target to reach a record value of $1 billion in the MY 2024/25. “We expect to reach historic levels of olive and olive oil production in the 2024/25 season, setting a target of producing 475,000 tons of olive oil and 750,000 tons of olives,” Emre Uygun, chairman of the Aegean Olive and Olive Oil Exporters Association (EZZIB), told Olive Oil Times. The sector aims to increase exports to $1.5 billion over the next five years. These production levels represent ambitious but achievable targets for the Turkish olive sector. The association sets a benchmark of annual exports of 200,000 tons of olive oil and 100,000 tons of olives, which would amount to $1 billion in foreign revenue at current prices. The main consuming countries of the product are Spain, Italy and the U.S., while olives from Turkey are mainly exported ...

Source: UkrAgroConsult