08.12.2023 Aydın Commodity Exchange Chairman Fevzi Condur Noises to Imitationing and Adulteration in Olive Oil

Aydın Commodity Exchange Chairman Fevzi Condur made statements about the 2023 2024 olive oil production and the imitation and adulterated olive oil released into the market due to the increase in olive oil prices.

Aydın Commodity Exchange Chairman Fevzi Condur stated that there was a decrease compared to the previous season due to the 2023 -2024 season being a poor year in olive oil production in our country and stated that the olive oil yield, which was expected to be 179 thousand tons according to the yield estimate of the National Olive Oil Council, was estimated to be below 100 thousand tons by Aydın Commodity Exchange.

"Due to the drought experienced in Europe last year, Spain, which has the world's highest production capacity in olive oil, lost nearly 1 million tons of olive oil production, and Italy lost nearly 200 thousand tons in olive oil production, and this year's loss continues at the same amount due to the drought. Therefore, there is a large decrease in the world olive oil supply this year. That  decrease in supply and the continuing demand for olive oil, prices in the international olive oil markets have increased to 8,500.00 Euros/ton" stated by Aydın Commodity Exchange Chairman Fevzi Condur. Mr. Condur added that the purchasing price of extra virgin olive oil from the producer has increased to between 260-280 TL depending on the price increases abroad in our country.

Condur stated that the sales of imitation and adulterated olive oil negatively affect the sector. Adulterated olive oil, which poses a danger to human health, should be monitored by our Ministry with strict inspections, and the criminal sanctions applied to imitation and adulteration should be increased to a deterrent level. He said that olive oil consumers should obtain olive oil from reliable sales points and well-known brands.