03.08.2023 Aydın Commodity Exchange Hope to Reverse This Process, Which Will Reduce The Income of Producers and Reduce Our Country's Exports

Fevzi Çondur, Chairman of Aydın Commodity Exchange, stated that the Ministry of Commerce's decision to impose an export ban on bulk and barrel olive oil until November 1, 2023, stating that the increasing foreign demand for olive oil and the rise in world prices continues to have a negative impact on domestic consumer prices.

The Ministry of Commerce stated that the increasing foreign demand for olive oil and the rise in world prices continue to have a negative impact on domestic consumer prices, and as of August 1, 2023, it imposed an export ban on bulk and barrel olive oil until November 1, 2023. In the statement, it was stated that sector representatives were informed that additional measures were taken for olive oil exports.

Fevzi Çondur, Chairman of Aydın Commodity Exchange, stated that the restriction on olive oil, which is one of the most important agricultural products of the Aegean Region and among the agricultural products exported by Turkey was a wrong decision.

Stating that, as Aydın Commodity Exchange, they do not find the bans and restrictions on olive oil exports correct, Çondur said that the average annual consumption of olive oil in our country is between 140-150 thousand tons. There are 50 thousand tons of olive oil stock from last year. When we look at this year's harvest, there will be around 420 thousand tons of production and there will be around 470 thousand tons of olive oil in total.  Considering that approximately 150 thousand tons of olive oil is used for domestic consumption, we have around 320 thousand tons of olive oil and so far, around 130 thousand tons of packaged and bulk olive oil has been exported. As a result, we currently have around 200 thousand tons of olive oil in Aydın Commodity Exchange for export.