Oilseeds - Oils

Olives: massive yield losses

July 26, 2023 at 8:52 AM , Der AUDITOR
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ANKARA. Turkish olive growers expect their yields to be significantly lower this year than in 2022. At the same time, prices have already risen to a record high due to various factors.

Unfavourable weather conditions

This year, spring proved to be cool and wet on average for a long time, also in the Turkish olive-growing regions. The average annual temperature in these areas is usually around 15-20°C and when it gets particularly hot in the summer months, the trees usually survive this too, with appropriate irrigation. However, due to climatic changes, winter dormancy failed to materialise this year, while cooler than usual temperatures had an additional negative impact on the olive trees and affected the development of the flowers. Growers therefore expect yields to be around 50% lower this year, while around 730,000 mt of olives were harvested in Turkey in the 2022/2023 season. This was announced by the Chairman of the National Olive and Olive Oil Council (UZZK), Mustafa Tan, during the Olive and Olive Oil Sectoral Analysis Meeting hosted by the Antalya Commodity Exchange (ATB).

Prices at record high

Drought, rising production costs and higher exports coupled with inflation have caused olive oil prices to rise massively in recent months. While prices were still at EUR 5.40/litre in April, they reached a new record of EUR 7.50/litre in mid-July. Retail prices for olive oil in Turkey rose by almost 78% within two months - from TRY 90/litre to TRY 160/litre. Demand for large containers (5-litre canisters) has decreased because prices have risen so much. Households prefer bottles of 500-750 ml instead.

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