EUR
enTurkey's olive oil exports suspended
August 2, 2023
Due to the increase in global oil prices and the fact that Turkish olive oil is bought up by Italy and Spain for resale to third countries, the Ministry of Trade has decided to suspend the export of oil until the beginning of the next harvest (until November 1, 2023).
Due to the dry weather, global oil production has decreased by 20%, while Turkey's production has increased by 62%. Turkish olive oil exports from November 2022 to July 2023 increased by 240% to 136.5 thousand tons. At the same time, exports of oil in barrels to Spain increased 21 times and to Italy 44 times!
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