Turkish olive oil companies are importing olive oil from abroad to make up for shortages in the domestic market.
The Turkish brand Komili, which produces different types of oil for the Turkish consumer market, including extra virgin olive oil, is one company which is importing olive oil from other countries, mainly Tunisia.
The price of Turkish olive oil has continued to climb to the current price of 12 Turkish Lira ($4.88) per kilogram. However, domestic producers are still holding off selling their stocks in hopes that the price will continue to increase in response to high worldwide demand given the poor harvests in Spain and Italy and the overall decline in world olive oil production.
Cahit Çetin, head of Tariş Olive and Olive Oil Association, a Turkish cooperative organization with more than 28,000 olive oil producers as members, told the Turkish daily newspaper Hürriyet that “there are no state policies to regulate the market and that Turkey faces steep increases and decreases in prices when anything wrong happens in the world,” hence the volatile situation faced by the sector in the past few months.
Çetin added that “Turkey needs to adopt good marketing strategies to promote its olive and olive oil products and support producers in order to maintain the olive oil sector.”
During this past crop year, Turkey was the fourth largest producer, with 16.7 percent of global olive oil production.
While domestic olive oil companies are importing from abroad, some Turkish olive oil is slated for export, notably to India.
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