Annoying development in olive oil prices in Turkey

Extreme heat and drought have hit olive production. The decline in the yield was rapidly reflected in olive oil prices. While the drought hit especially southern European countries, it also showed its effect in Turkey. Spain increased imports due to the sharp fall in yield. Exports from Turkey to Spain in the first 6 months of the year increased to 203.9 million dollars, or about 27 times. The price of olive oil, which was around 5 euros in April, broke a record by approaching 8 euros. Increasing prices in the world also spread to Turkey. Prices started to rise with the reflection of costs. Olive oil season starts with 70 TL per liter for the farmer, and reached 175 TL in mid-July. According to industry experts, price increases will continue. IT IS CHEAP ACCORDING TO THE EXPORT PRICE Akhisar Commodity Exchange President Alper Alhat said, "This is the price that pleases the manufacturer, but it is sad for those who have sold their oil before. 70 percent of the products have been ...