Joint Statement from the Olive Oil Sector: "Lift the Export Ban"

In a joint statement signed by 20 institutions, it was emphasized that the ban should be lifted immediately.

The meeting, hosted by the Aegean Olive and Olive Oil Exporters Association, brought together 20 institutions that shape the Turkish olive and olive oil sector. The institutions released a joint statement urging for the immediate lifting of the ban on bulk and barrel olive oil exports. The statement underscored the importance of export in agriculture as a safeguard for producers and emphasized that producers should not be deprived of this safeguard.

The joint statement, signed by 20 institutions, stated, "In the 2023-24 season, a supply of 385,000 tons of olive oil was formed, including 170,000 tons of carryover stock from the previous record production year, and an additional 30,000 tons from Syria. With an estimated export of 60,000 tons of olive oil and a consumption of 125,000 tons, there will be a carryover stock of 200,000 tons for the next season. This amount will easily meet the domestic market demand and allow for exports. The crop losses in Spain and other producing countries and the increase in production in our country presented an important opportunity for our country to export. Despite world prices being at 10 euros and the opportunity to export at these high prices, the opportunity continues to be missed. The export restriction on olive oil has led to improper storage conditions and loss of quality. Our losses during this period amounted to approximately 400 million euros."

The statement further highlighted the adverse effects of the measure, stating, "When the measure was taken, the price of olive oil, which was 180 TL, has not only failed to decrease but has risen to levels around 350 TL. Our exports have suffered a decline of around 70% in the 2023-24 season compared to 150,000 tons in the previous season. Not only exporters suffered losses due to the measure, but producers also experienced income losses as they could not sell their products to exporters. Above all, Turkey and Turkish olive oil exporters have lost their reputation in export markets."

Expecting a harvest of over 400,000 tons in the 2024/25 season in Turkey, the joint statement projected the need for strategic support to convert this potential into added value. Without such support, the statement warned of the risk of rapid depreciation of olive oils and the transformation of extra virgin olive oils into refined oils. The statement emphasized the importance of encouraging exporters and producers to turn this harvest into added value. Failure to do so may lead to producers being forced to cut down existing olive trees, as was the case in the 1980s. It also warned of the potential global decline in olive oil prices due to high production. If the measure continues, all stakeholders in the sector and our country will lose.

The 20 institutions that signed the statement are as follows:

Akhisar Commodity Exchange, Akhisar Chamber of Commerce and Industry, Aydın Chamber of Industry, Aydın Commodity Exchange, Aydın Chamber of Commerce, Ayvalık Chamber of Commerce, Ayvalık Olive Producers Association, Burhaniye Chamber of Commerce, Edremit Commodity Exchange, Edremit Chamber of Commerce, Aegean Region Chamber of Industry, Aegean Olive and Olive Oil Exporters Association, Izmir Commodity Exchange, Izmir Chamber of Commerce, Edremit Gulf Olive and Olive Oil Producers Federation, Manisa Commodity Exchange, Manisa Chamber of Commerce and Industry, Söke Commodity Exchange, Tariş Olive and Olive Oil Cooperative, Tire Chamber of Commerce, and National Olive and Olive Oil Council.