Mehmet Fatih Sumeli, the Managing Director of Yağmur Süt Zeytin ve Et Ürünleri San. Tic. Ltd. Şti., advised Anadolu Agency that there had been a crop scarcity of roughly 60-70% in comparison with earlier years as a result of drought in olive timber in Spain, Italy, and France.
“Olive and olive oil production in Europe has entered a drought crisis, and all eyes are turning to Türkiye.”
Sumeli said that these nations had been compensating for the loss by importing bulk olive oil from different producing nations. He talked about that as a result of elevated demand, the value of oil-producing olives in Türkiye had risen from round 15 liras per kilogram to roughly 35 liras. In an effort to keep up their management within the world-branded olive oil market, nations like Spain are gathering olive oil from numerous sources. However, he highlighted the problem of some native corporations in Türkiye gathering merchandise from nationwide and native markets, changing packaged merchandise into bulk kind, and exporting or supplying uncooked supplies to exporters. Sumeli emphasised that this disaster may very well be became a possibility by rising exports of branded merchandise. He urgently urged closing bulk olive oil exports and solely permitting small packaged and home branded merchandise on the market. Otherwise, with the present excessive worth of oil-producing olives, no producer can be prepared to promote them for desk olives; as a substitute, they might extract the oil and promote it at the next worth.
Sumeli identified that there is perhaps a crop scarcity within the upcoming olive season in September, and he expressed his concern, saying:
“If such a situation occurs, and the base price for oil-producing olives starts at 40 liras, then by January, the cheapest price for table olives per kilogram at retail points will reach around 150 liras, and the large-sized olives will be around 350-400 liras. The price of 1 liter of olive oil may also reach about 350 liras. The bulk olive oil exports, which have no benefit or added value for our country, should be closed for the common benefit of all citizens. If there is no crop shortage, it can be reopened until December.”
Sumeli additionally indicated that the olive inventory within the nation was at the moment low, and he warned about the opportunity of counterfeit olive oil coming into the market.
He talked about that inside two months, the value of large-sized olives in Türkiye had elevated from 99 liras per kilogram to 180 liras, and if the scenario continued, the value might attain round 250 liras by September.
If export restrictions will not be applied, there will likely be a scarcity of desk olives in Türkiye after three months,” stated Ali Yıldız, a Board Member of İkram Gıda AŞ, emphasizing that prices of olives and olive oil had risen due to exports. He added, “The cause is that, though not as a lot as in Europe, olives are additionally scarce in Türkiye this 12 months. If pressing intervention will not be taken, the value of 1 liter of olive oil within the markets will attain 300-350 Turkish liras, and desk olive costs will rise as much as 400-450 Turkish liras in January-February.”
Source: www.anews.com.tr
