The Turkish government has re-introduced olive oil export restrictions, according to a report by the United States Department of Agriculture (USDA).
A three-month export ban on olive oil in bulk and in barrels was introduced by the Ministry of Trade on 1 August due to the shortage of olive oil production in Mediterranean countries and subsequent negative effects on domestic prices in Turkey, the 22 August report said.
This was the third time in three years that Turkey had banned olive oil exports in a bid to stabilise local market conditions, the Foreign Agricultural Service (FAS)’s Global Agricultural Information Network (GAIN) report said.
In a press statement, the Ministry of Trade noted “the negative impact of olive oil exports in bulk and barrels, which have increased significantly due to increasing foreign demand caused by decreasing olive oil yield around the world”.
“The ministry has carried out a re-evaluation under these circumstances and additional measures have been put into effect for the export of olive oil in bulk or in barrels until the beginning of the next olive oil harvest period (1 November 2023),” the statement said.
According to the ministry, Turkey’s packaged olive oil exports increased by 3% by volume in the 2022/23 marketing year, while bulk olive oil exports increased by 5.5 times and barrel exports increased by four times. Looking at the distribution of exports by shipment type, total exports of bulk and barrel olive oil increased from 42% to 83%.
In July, the Turkish government introduced a fee of US$0.20/kg for all bulk and barrelled olive oil exports in in a bid to increase the export of value-added products, such as consumer-ready packaged olive oil, and to discourage the export of olive oil in bulk and barrels, the report said.