Packaged olive oil exports still possible
Turkey's Ministry of Commerce shocked the market in summer by issuing an export ban for olive oil in bulk and barrels at short notice. While the three-month ban became effective on 01 August and was set to expire on 31 October, the Ministry issued an extension until further notice on Wednesday. The new export season will start on 01 November 2023.
Background is that production slumped in many main producing countries in 2022/2023 - with the noted exception of Turkey, where yields were good. This prompted an upsurge in demand for olives and olive oil. In turn the government decided to step in to protect the domestic market from a supply squeeze and price hikes. Objective is also to boost exports of packaged olive oil, which are still possible, and thereby generate more value. Yet, a deduction of of 20 cents per kilogramm applies for all kinds of bulk and barreled olive oil exports.
Record-breaking table olive exports
Turkey's total table olive exports reached a value of USD 184.510 million, which is an absolute record according to the Aegean Exporters' Association. Exports comprise 75,295 mt of black olives worth USD 137.705 million and 25.076 mt of green olives worth USD 46.805 million. More than 90% of the country's table olive exports are packaged and the Association is striving to ship more value-added products in the next few years. Despite the mid-season export ban for bulk and barrelled olive oil as well as pomace, the export value still ranged as high as USD 948 million in 2022/2023, which comes close the industry's target of USD 1 billion.
Germany is the main export destination for Turkey's black olives as the export value reached USD 33.4 million. Next in line are Romania with USD 24.3 million, Iraq with USD 23.4 million and Bulgaria with USD 9.3 million and the USA with USD 7.8 million. Iraq is, in addition, the top export destination for green olives as the export value amounted to USD 9.1 million. Germany follows with USD 8.7 million, the USA with USD 3.2 million and Israel with USD 2.4 million as well as Romania with USD 2.1 million.