Time-Honored Olive Farming: Olive Oil Prices Set for Stability This Year
Köklü Zeytincilik participated in the SIAL Paris International Food Exhibition held in Paris, France, from October 19-23. The company made significant agreements for alternative export markets. Mustafa Kürlek, Chairman of Köklü Zeytincilik, stated that due to Turkey's record olive oil production of 475,000 tons and the 50% yield increase in Spain, olive oil prices are expected to remain stable this year.
SIAL Paris 2024, the world's largest food and beverage exhibition, took place from October 19-23 in Paris, celebrating its 60th anniversary with the participation of 7,500 companies from 130 countries, representing various sectors including distribution, import-export, hospitality, services, and agricultural food industries.
Turkey, attending the exhibition for 38 years, was the third largest foreign participant in terms of total square meters, following Italy and Spain. Köklü Zeytincilik, one of Turkey's oldest and largest olive oil exporters from "the Olive Oil Capital Ayvalık," exports to 15 countries including the US, Japan, Italy, and Spain, and attended the exhibition for the first time. Located in Hall 3, E125 stand, Köklü Zeytincilik engaged in significant interactions from the event's first day.
Mustafa Kürlek explained, "75% of our products are sold to export markets and 25% to the domestic market. Aiming to increase the export share to 85% in our sales and focus on export marketing through international exhibitions, we found it appropriate to participate in SIAL, the world's largest food and beverage fair. We signed important business agreements to develop our export markets and plan to establish a Europe-based company soon to manage significant markets more effectively. We certify the quality of our products with the awards we win annually in competitions."
Turkey ranks among the top five in global olive and olive oil production. The number of olive trees in Turkey has increased from 90 million to 190 million over the past 20 years, leading to higher production volumes. Depending on the annual harvest, Turkey has sometimes ranked second in global production. Mustafa Kürlek commented on the 475,000-ton oil expectation of the National Olive and Olive Oil Council (UZZK) for the 2024-2025 season, stating, "Last year, Spain produced 850,000 tons of olive oil. This year, official estimates predict production to reach 1,320,000 tons, indicating a 50% increase. With Turkey's expected harvest, olive oil prices are anticipated to remain stable compared to last year."
Kürlek also addressed the issue of counterfeit and adulterated olive oil, urging consumers to verify company details such as address and contact numbers before purchasing products. He emphasized the importance of buying from reliable companies to avoid counterfeit products, acknowledging the benefits of routine inspections by the Ministry. However, he warned consumers to exercise caution, especially with purchases via e-commerce platforms and social media, where fake addresses and phone numbers might be used.