28.Nov .2022 12:30

Türkiye’s olive oil exports up 50% to reach $201.6M

Türkiye’s olive oil exports up 50% to reach $201.6M
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Türkiye’s olive oil exports in the 2021-2022 season increased by 50% compared to the previous period and reached $201.687 million (TL 3.75 trillion), according to official data.

The country continued its trade with more than 120 countries in the 2021-2022 olive oil export season, which ended on Oct. 31.

Olive oil exports increased from 44,000 tons to 58,000 tons with an increase of 32% in amount compared to the previous season, and increased by 50% on a value basis from $134.877 million to $201.687 million, data by the Aegean Exporters' Association (EIB) showed.

The country with the highest olive oil imports from Türkiye was the United States with $75 million.

The U.S. was followed by Spain with $24 million, Japan with $17 million, Saudi Arabia with $10 million and the United Arab Emirates (UAE) with $5 million.

Aegean Olive and Olive Oil Exporters' Association head Davut Er told Anadolu Agency (AA) that Türkiye has achieved significant success in olive oil exports.

Expressing that packaged olive oil exports amounted to $107 million, Er said: “We sent 53% of our total olive oil exports as packaged. This season, our olive oil sector reached the highest figures in its history, we left behind a successful season.”

Er stated that they set a target of $500 million in olive, olive oil and pomace exports for the next season.

Pointing out that the yield is low in Spain, which dominates the sector, Er said, “The European Union needs Turkish olive oil, so it has to focus on alternative markets.”

Akhisar Commodity Exchange Chairperson Alper Alhat also stated that Türkiye has a historically high yield in olive and olive oil this year.

Stating that there are 14 million olive trees alone in Akhisar, a district of Türkiye’s western Manisa province, Alhat said: “We have started the new season to produce the best quality olive oil in the country with a harvest of approximately 40,000 tons of olive oil and 67 olive and olive oil enterprises.”

“Positive developments in the domestic market have also reflected positively on exports,” Alhat said, noting that the developments in the world olive oil market are in favor of Türkiye, Daily Sabah reports.