Producers puzzled by Turkish ban on bulk olive oil exports

Published Apr 22, 2021

Tridge summary

Turkey has imposed a ban on the export of bulk olive oil, effective until October 31, 2021, due to uncertainties caused by the Covid-19 pandemic and fears of inflation. The ban does not affect olive oil packaged in bottles or barrels. In addition, taxes on imported sunflower, canola, and safflower oil have been waived until July 1. The ban is expected to prevent product shortages and secure reasonable prices for domestic consumers. However, the move has been rejected by the Aegean Olive Oil Exporters Association of Turkey, which argues that there is sufficient olive oil to be exported and that the ban could cause significant economic damage to producers and exporters.

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

Original content

Exports of olive oil in bulk have been put on hold in Turkey. After a request from the country’s Ministry of Agriculture and Forestry, the Ministry of Commerce imposed a ban on olive oil exports in bulk effective until October 31, 2021, on the grounds of the uncertainty caused by the Covid-19 pandemic and fears of inflation in the country’s economy. However, olive oil packaged in bottles or barrels is free to be exported as usual. Furthermore, taxes imposed on imported sunflower, canola and safflower oil have been waived in the country until July 1. “At the moment, everybody is complaining about uncertainty,” said Harun Seçkin, the head of the Food and Control department of the Ministry of Agriculture and Forestry of Turkey. “We do not know what will happen tomorrow. Some countries, especially in terms of oil, buy more than their needs.” “In this framework, we thought that a restriction on the export of our olive oil in bulk would be appropriate,” he added. “There is no problem ...

Source: Olive Oil Times