Turkey: Olive oil prices will increase, here are the prices of the new crop

Published Nov 13, 2023

Tridge summary

Due to drought, olive oil yields have decreased in Spain, Italy, and Turkey, leading to a rise in olive oil prices in Europe. TARİŞ Olive and Olive Oil Association announced a significant increase in the purchase price of olive oil in Turkey, which has satisfied farmers. Despite the lower yield, Turkey is expected to have a less challenging season than Europe due to the remaining product from the previous year.

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

Original content

Olive oil yields decreased in Spain and Italy due to drought. Olive oil prices continue to climb in Europe. Even though there is an export ban in Turkey, olive oil prices are increasing. TARİŞ Olive and Olive Oil Association announced the 2023-2024 olive oil purchase price as 295 lira per kilogram, an increase of 264 percent. Gödence Agricultural Development Cooperative President Çağatay Özcan Kokulu said that the olive oil purchase price satisfied the farmers. The new product of olive oil, which is indispensable for kitchens, is expected to take its place on the shelves at the level of 350-400 liras. Due to drought and rainfall imbalance, olive oil yield in Turkey decreased by 57 percent. According to the ...

Source: Ulusal