The Turkish Ministry of Trade has announced a temporary ban on olive oil exports as part of the measures to prevent price escalation in the national market, given the shortage of the so-called “liquid gold” in the Mediterranean countries.
In a statement, the ministry reported that olive oil production has decreased this season by up to 20% in Spain or Italy due to the drought that affects the Mediterranean basin and Europe, while in Turkey production has increased this year by 62%, therefore increasing the demand for Turkish olive oil exports, which Italy but especially Spain import in bulk and then sell as their own to third countries. The olive oil export ban will remain in force in Turkey for at least 3 months, until November.
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Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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