Turkey enjoys substantial increase in olive oil exports

Turkey’s olive oil exports quadruple in the last five months from the same period a year earlier benefiting from the harvest fall in Spain, a report says.

Spain which is known to be the world’s largest oil producer has suffered a considerable fall in the harvest of olive oil and opened the way for countries such as Turkey to gain market share.

It is reported that Turkey’s olive oil exports which had been halted considerably since the 2005-2006 season reached 45,000 tons with a 446 percent increase between Nov 2012 and March compared to the previous period.

It has also been recorded that Turkey enjoyed an increase of 626 percent in March (from the same month a year earlier). On the other hand while exports increased to 20,000 tons in the 2011-2012 season, from 12,000 tons in the previous period, income from exports reached $65 million, with a 33 percent increase.

In the report it is explained that the boost in Turkey’s export figures was due to decrease in Spain’s olive oil production because of lack of rain and the loss incurred by Spain was almost 60 peercent.

05.04.2013
SOURCE: MEDIA