Türkiye lifts ban on bulk olive oil exports

The move comes at a time when Türkiye's inventories are high and the country is expecting a bumper new harvest amid low inventories in Europe, according to the Olive Oil Times. The ban was lifted 13 months after the Turkish government suspended bulk olive oil exports, in a bid to stabilize domestic prices and encourage exports of individually packaged olive oil, which sells at a premium to bulk olive oil. In June 2024, after intense lobbying by producers and exporters, the government eased the ban, allowing exports of 50,000 tonnes of olive oil until November 2024. The lifting of the olive oil export restrictions will take the sector to new heights. After years of bumper harvests and some difficulties exporting individually packaged olive oil, Türkiye's olive oil inventories have been pushed up. Türkiye had about 150,000 tons of olive oil in stock at the start of the season, according to Mehmet Emre Uygun, president of the Aegean Olive and Olive Oil Exporters Association ...