EVOO price hike hits Turkey and expecting that will rise

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Çetin told Anadolu Agency that prices ind Turkey are too dependent on the Spanish and Italian markets. “We have not even come to the halfway point of the harvest season and most of the olives have not been picked yet, but an urgent demand has hiked prices,” he said.

Gürkan Renklidağ, head of the Union of Aegean Olive and Olive Oil Exporters, said the current prices were not beneficial for exports and posed the risk of losing foreign markets.

Renklidağ demanded that the Agriculture Ministry double the amount of government support, adding that Turkish prices are still around 1 euro higher than other world markets.

“We want support, particularly in order to not lose the U.S., China, Japan and Saudi Arabia markets,” he said.

Pre-season estimates showed that Turkey would produce around 189,000 tons of olive oil this year.
Disastrous olive harvests in much of southern Europe have sent wholesale prices sky-rocketing.

Nowhere has the impact of unusual summer weather been felt more painfully than in Tuscany and Umbria, where the subtly aromatic, extra-virgin oils reaped from timeless landscapes provide the industry’s global benchmark for quality, Agence France-Presse reported Dec. 8.

In Spain, which accounted for half the world’s production of all grades of olive oil last year, a toxic cocktail of scorching temperatures, drought and bacteria is expected to halve output this year.

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