While the yield decreased by 40-70 percent, prices increased by 120 percent in 11 months: Olive oil will be a waste

While the yield decreased by 40-70 percent, prices increased by 120 percent in 11 months: Olive oil will be a waste

The annual increase in olive oil, which Minister of Agriculture and Forestry İbrahim Yumaklı defended with the words “The price has not changed, very small increases can be seen”, reached 180 percent in 11 months while overtaking inflation. It is stated that prices will continue to increase and reach 600 TL due to the decrease in yield on the one hand and the high increases in producer costs on the other. “The price won’t fall until the cost falls. “No one is doing opportunism,” said the producer, and expects support and purchasing support at the European Union standard for price stability.


According to the Turkish Statistical Institute’s Agricultural Producer Price Index, the product whose price increased the most in October was olives with 35.35 percent. 1 liter of extra virgin olive oil, which was sold for 114 liras at the beginning of the year, started to be sold for 320 liras today, with a 178 percent increase. This year’s purchase price of olive oil, whose harvest season has ended, increased from 74 lira to 295 lira by the producer association Tariş. According to the announced data, 422 thousand tons of olive oil were produced in 2022. This year, this figure is expected to decrease by 40-70 percent to 80 thousand tons. The increase in olive oil prices cannot be stopped due to both climate change and increasing costs.

Mustafa Tan, Founding President of the National Olive and Olive Oil Council (UZZK), reacted to the producers being blamed for the price increases and said, “High costs and olive oil prices in the world increase domestic market prices. “Nobody is doing opportunism,” he says. Tan’s comments are as follows:

“While everything is increasing every day, only olive oil is wanted to be made a scapegoat. No one talks about medicine, fertilizer, fuel. Prices also increased on the world stock market. There is no olive oil in the world, not even a stock. There were yield decreases of more than 50 percent in Spain, Tunisia and Italy. We are experiencing the worst season in the last 500 years. The price will not drop until costs drop. Support for producers needs to increase. Production support at European Union standards is needed. While a producer in Greece receives 1.32 Euros (41 TL) per kilogram, we receive 8 kuruş support. 50 times more.”


Cem Murat Erdilek, President of the Çanakkale Olive Oil and Olive Producers Association, stated that the state should announce the purchase price for olive oil, as it does for wheat and tea, and complained that Tariş announced the price when the harvest was about to end and said, “Tariş only buys the goods of its own members. They also announce the price after the best goods are sold cheaply. He buys the best quality oil for 295 liras. “It didn’t come out because of the season anyway,” he said.

Stating that olive oil has reached unattainable prices, Erdilek said, “Either consumption habits will change or there will be an intervention in prices. Prices were very low last harvest year. It jumped from 100 lira to 150 lira 3-4 months ago. After that, it gradually increased to 200 lira. Currently, factories sell it in bulk for 330 liras per liter. “The oil, which is sold for 350 lira in the factory, will be 600 lira when it hits the shelves,” he said. Erdilek also emphasized that farmers should be supported against increasing costs.

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