Olive oil exports fall by 33 percent: Turkey

ANKARA

Turkey’s olive oil exports have declined by 33 percent because of higher prices compared with European market prices, figures provided by Aegean Exporters' Associations reveal.

According to the figures, the country earned $66 million from olive oil exports between Nov. 1, 2014 and Oct. 31, 2015 compared with $100 million earned in the 2013-14 crop year.

Figures also show that the country exported 14,856 tons of olive oil from Nov. 2014 to Oct. 2015, compared with 26,343 tons during the same period last year.

The deputy head of the Union of Aegean Olive and Olive Oil Exporters, Emre Uygun, told Anadolu Agency that the 2014-15 crop year was not good for Turkish olive oil exporters.

"Olive oil prices in Turkey are more than in Europe. That’s why our exports have declined," Uygun said.

The association said in January that Turkish olive oil prices (€3.62) are a euro higher than those in other European markets.

“The new crop year which started in Nov. 1 will produce enough oil for domestic consumption. This shows that exports will decline further in coming months,” Uydun added.

Spain is the biggest producer of olives and olive oil in the world, with Italy coming in at second.