Thanks to the removal of bulk olive oil export restrictions, Olive oil producers in Türkiye are gearing up to boost exports to the United States, Japan, and Australia. Their goal is to compete with European producers on quality and price while making substantial gains in key markets such as Saudi Arabia, the United Arab Emirates, China, and Japan, where demand is rising.
By 2025, Türkiye plans to strengthen its presence in these areas through targeted business collaborations. The ban was lifted 13 months after the Turkish government suspended bulk olive oil exports to stabilize domestic prices and encourage the export of individually packaged olive oil, which commands higher prices than bulk oil.
Mustafa Tan, head of the National Olive and Olive Oil Council, noted that the restriction aimed to prevent domestic price hikes. However, the intended effect was not particularly evident since domestic prices are linked to global prices. In response to pressure from producers and exporters, the government allowed the export of 50,000 metric tons by November. Tan expressed satisfaction with the decision, sharing that the sector is optimistic about the future since lifting the ban will elevate the industry’s status.
Supply chain experts expect Turkish producers to quickly fill the gap between two subpar harvest seasons in significant parts of the Mediterranean. Turkish olive oil producers face opposite challenges now, with excessive stock levels after several years of strong harvests and difficulties exporting individually packaged olive oil.
Türkiye’s olive oil exports primarily consist of bulk sales. Concerns about a potential domestic supply shortage preceded the ban, but the present challenge lies in the oversupply.
Mehmet Emre Uygun, head of the Aegean Olive and Olive Oil Exporters’ Association (EZZIB), stated that Türkiye had approximately 150,000 tons of olive oil stockpiled as the cultivation year commenced.
Observers predict Türkiye will produce around 350,000 tons of olive oil during the 2024/25 growing season. With domestic consumption at roughly 120,000 tons annually, Uygun and other Turkish producers are worried about excess olive oil that may fail to reach foreign markets before its quality diminishes.
