Olive oil: prices on the rise
September 10, 2025 at 2:37 PM ,
Der AUDITOR
Price surge in Turkey
With the new olive harvest season just days away market activity has driven prices up rapidly. Producers' prices for olive oil have jumped from TRY 150 to TRY 240 per litre in only one month. Dr Mustafa Tan, President of the National Olive and Olive Oil Council (UZZK), stated that this year's yield will be significantly lower than last year. Recalling that last year was a record production year, Tan emphasises that this year’s decline is normal. This expectation, coupled with the increasing demand for high-quality olive oil in the market, is resonsible for the recent price hike. Prices may, however, turn again.
"Regarding exports, incentives should be reintroduced, particularly for branded and packaged exports, and export restrictions should not be imposed on bulk olive oil," according to Tan. He adds that "prices will again be affected by global economic conditions in the coming season. International markets have recently seen a EUR 200/mt increase. Olive oil prices in Spain have reached a high USD 4.40 but had previously dropped to USD 3.40."
Approximately 200,000-250,000 mt of olive oil remain from last year. Analyses will, however, determine in how far these volumes can be exported. Producers are not selling their supplies due to low prices. As the new harvest approaches prices are, however, rising as industrialists are running out of oil.
In addition, Dr Mücahit Kıvrak, faculty member of Balıkesir University Edremit Vocational School, reckons that the drought experienced in the summer of 2025 had a negative impact on both the yield and quality of the olive groves. He states that, “if there are still any fruits on the trees, they will remain small." Yet, it is possible that olive trees could partially recover if dew and autumn rains begin in September. Kıvrak is confident that, “the fruit will recover, and producers can enter the season with more hope."
Turkey keen to secure market shares in the US
According to the Aegean Olive & Olive Oil Exporters Association Turkey exported 44,097 mt in the first nine months of 2024-2025. The United States was the top export destination with 19,041 mt. For every 100 mt of olive oil exported by Turkey, 43 mt went to the US. Turkey exported 12,344 mt of olive oil to the US in the first nine months of 2023-2024 illustrating that exports have surged by 54% in terms of volume this year.
The Turkish olive sector, which generated USD 480 million in foreign currency from exports in 2024-2025, recorded USD 118 million in exports to the United States. The US is the country to which the Turkish olive sector exports the most, with USD 25 of every USD 100 in export revenue coming from the US.
Emre Uygun, President of the Aegean Olive and Olive Oil Exporters' Association, illustrteas that at USD 86.218 million olive oil exports accounted for the majority of the USD 118 million in exports to the US. Pomace oil exports increased by 21% to USD 17.214 million, black olive exports by 16% to USD 10 million and green olive exports by 20% to USD 4.2 million. The US accounted for a 19% share of the Turkish olive sector's exports in 2023-2024 and USD 25 of every USD 100 in 2024-2025 went to the United States.
As the US consumes 370,000 mt of olive oil and 185,000 mt of table olives per year, the country is the largest consumer after the European Union. As Uygun states, Turkey is “striving to strengthen its position in the US market. Our goal is to reach a 10% market share in the US.
Turkey with only 2% market share in EU
The EU is a net exporter of olive oil. In the current marketing year, which started on 1 October 2024, olive oil exports ranged at 670,000 mt worth EUR 4.1 billion (USD 4.8 billion) as of 31 August according to DG Agri’s Weekly Taxud figures. Imports stand at 68,000 mt worth USD 273 million (USD 320 million) with Tunisia as the leading supplier (69%, 42,940 mt), followed by Morocco (15%, 10,250 mt) and Egypt (7%, 4,89 mt). Turkey only ranks fourth with a market share of 2% (1,580 mt).
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