Turkey: Olive oil producers expect no supply problems

Despite the expected decline in production, Türkiye’s olive oil producers do not anticipate serious supply problems thanks to olive oil in the stocks. The national production is forecast to drop from 400,000 tons last year to around 150,000 tons in 2023, according to Fevzi Çondur, the head of the Aydın Commodity Exchange. Poor olive harvest and resulting low olive production is not a unique problem to Türkiye. The world’s largest olive oil producers, Spain and Italy, also saw a sharp decline in the production last year, blaming largely on bad weather. Olive oil production in Spain plunged from 1.6 million tons to 600,000 tons, while in Italy, output was down from 500,000 tons to less than 100,000 tons, according to Çondur. However, despite the decline in production, consumers in Türkiye should not face a shortage of olive oil, said Alper Ahlat, the president of the Akhisar Commodity Exchange. “Yes, our production is low this year, but we think we will get through this year without ...