News

Türkiye prepares to recover foreign olive oil markets

Olive Oil
Turkiye
Regulation & Compliances
Market & Price Trends
Published Oct 31, 2023

Tridge summary

The Turkish export market for olive oil is expected to recover as borders reopen for exports on November 1st after being closed for three months. This will help normalize prices in the domestic market, which had fallen recently. However, the ban on exports of olive oil in containers larger than 16 kilograms has faced opposition from local producers and has led European buyers to look for alternative suppliers.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Olimerca.- After three months of closing borders to exports of olive oil from Turkey, on November 1, departures are expected to normalize, which will undoubtedly not only help the Turkish export market recover, but also It will help normalize prices in the domestic market, which had fallen in recent months. The ban has only applied to sales of olive oil in containers larger than 16 kilograms and does not include exports of higher value individually packaged olive oil. However, the ban has sparked opposition from local producers. According to the specialized publication Olive Oil Times, the ban is already costing Turkish producers their export markets. As olive oil prices rise, European buyers are urgently looking for alternative suppliers, including Albania, Chile and Tunisia. It ...
Source: OliMerca
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