Table olive exports from October 2018 to March 2019 reached $80.8 million, increasing by 14 percent year-on-year. Germany ranked the first in olive exports with $21.5 million.
According to Aegean Exporters' Association data, Turkey made $172.8 million in return for exporting 42,257 tons of olive oil from November 2017 to March 2018. In the same period this year (from November 2017 to March 2018), the export of 30,315 tons of olive oil brought $85.5 million in revenue.
The U.S. ranked the first in olive oil exports with $28 million, followed by Spain with $11.7 million and Saudi Arabia with $9 million.
Despite the decline in olive oil exports, the export of table olives increased. In the first six months of the last season, the export of 35,462 tons of table olives brought $70.9 million in foreign exchange revenue, while exports skyrocketed by 46 percent, reaching 51,884 tons and bringing $80.8 million, with a 14 percent rise, in the same period of this season.
Germany ranked first in olive exports with $21.5 million, followed by Iraq with $12.9 million and Romania with $11.4 million.
Aegean Olive and Olive Oil Exporters Association Chairman Davut Er told Anadolu Agency (AA) that the rise in Spanish olive oil production had a negative impact on Turkey's olive oil exports.
Indicating that Spain is a market maker country in olives, Er said that Spain exceeded the expected yield of 1.6 million tons of olives this season. Emphasizing that the yield is 200,000 tons higher, Er stated, "Here, fallibility is as much as Turkey's yield. So, it seems that the general price level in the world has declined. However, there is a pleasing situation in the export of table olives. There has been a significant increase in olive exports to many countries, especially to the U.S."
Pointing out that olive oil prices are low in all producing and consuming countries, Er noted that they are closely monitoring the global olive oil market. "At the moment, olive oil prices have hit the rock bottom in the world. We believe that it will recover after a certain time. Consumers will enjoy the biggest advantage from these low prices," he added.
