Turkiye: Olive Oil prices fall but costs rise

Published Dec 1, 2024

Tridge summary

The article highlights the plight of olive oil producers in Manisa, Turkey, as they face a significant decrease in prices despite rising production costs. Last year, olive oil was priced at 300 liras, but due to increased costs and reduced expectations in oil prices, exporters have lowered the price to 150 liras. Factors such as increased labor and fertilizer costs, as well as adverse weather conditions, have contributed to the increased costs. The article also mentions the geographical indication of Soma olive oil, which is known for its quality, and the producers' desire to rise together rather than compete.

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Original content

(MANISA)- Şerifali Uysal, who produces olive oil in the Soma district of Manisa, said, "Input costs in the formation of olive oil prices, such as fertilizer and labor costs, have increased by 100 percent. Oil price expectations have been lowered. Exporters have brought olive oil, which was previously 10 euros, to 5 euros. Olive oil, which was 300 liras last year, is being asked to be purchased from farmers for 150 liras." Şerifali Uysal, who produces olive oil in the Soma district of Manisa, stated that production costs have increased compared to last year, while olive oil prices have decreased. Şerifali Uysal, who produces olive oil in the Soma district of Manisa, said the following: "We started our production this year. We, as producers and factory owners, had a very good year last year. Last year, olive oil prices were 300 liras. In labor costs, women's daily wage was 600 liras, and men's daily wage was between 800-900 liras. Fertilizer prices were low last year. Despite the ...

Source: Sondakika