In olive oil, it will be a "zero year" with losses of 40 percent or more compared to the previous period. The potential decline in olive oil production both domestically and internationally in the 2025-2026 season could drive prices up again.
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In olive production, this will be a "zero year" with losses of 40% or more compared to the previous period. Olive oil production dropping similarly both domestically and abroad in the 2025-2026 season could again raise prices. In the 2024-2025 season, Turkey reached record yield with 3 million 750 thousand tons of olive production, achieving the highest olive oil harvest of all time, with 475 thousand tons of olive oil and 750 thousand tons of table olives produced. With this high yield in Turkey also occurring in other important olive-producing countries, olive oil prices declined due to total global supply. Last year's natural extra virgin olive oil, which was sold at an average price of 500-600 lira on shelves, has dropped almost by half both domestically and internationally due to this year's abundance. Many markets showed famous brands' olive oils being sold at 200-250 lira during campaigns. The price drop benefited consumers, but olive producers were victimized as their ...