Turkey Olive oil: production to increase by almost 160%
Turkey’s olive oil production is expected to surge 156.8% to 475,000 mt in 2024 due to a record olive harvest of 3.6 million mt. Exports are targeted at 200,000 mt, aiming for $1.5 billion in annual export value within five years.
IZMIR. Experts forecast a massive increase in yields in Turkey. This should also lead to a significant increase in olive oil production. However, the high price level is unlikely to be maintained.
Olive crop estimated at 3.6 million mt
After the ‘off-year’ 2023, in which the olive crop in Turkey was noticeably smaller, the 2024 crop was able to achieve a significantly better result again, according to reports from the National Olive and Olive Oil Council (UZZK). Plantations with a total of 172 million fruit-bearing olive trees are cultivated across the country. A total of 3.6 million mt of olives are expected to be harvested this year, an increase of 136.8% on last year. Table olives account for 750,000 mt of this and the remaining 2.85 million mt are oil olives. Around six kilograms of olives are needed to produce one kilogramme of olive oil, so in view of the olive crop, olive oil production could increase by 156.8% year-on-year to 475,000 mt. According to the chairman of the UZZK, Turkish olive oil production could thus set a new record this year, the last one having been set in the 2022/2023 season with a production volume of 421,000 mt. In addition, due to export restrictions, only small quantities of olive oil were exported in the 2023/2024 season, leaving an estimated additional 100,000-150,000 mt of olive oil available from the previous season. Turkey aims to increase its annual export value of olive oil to USD 1.5 billion in five years; in the 2022/2023 season, olive oil worth USD 723.859 million was exported from Turkey. In the 2023/2024 season, however, only 70,750 mt worth USD 506 million were exported. For the current 2024/2025 season, Turkey is aiming to export 200,000 mt of olive oil.
Source Link : Mundus Agri
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