By Zeynep Duyar
ANKARA (AA) - While olive and olive oil output in Europe, especially in Spain, is in crisis due to the drought, Türkiye aims to boost its market share with establishing new production and export strategies.
Close to achieving a $1-billion olive oil exports record, Türkiye focused on value-added production and sales, according to data compiled by Anadolu.
Extreme heat in Spain, the world's largest olive oil producer, will cause production to remain below expectations leading to price hikes.
With the surge in foreign demand, Türkiye will cut Turkish lira equivalent of 20 cents per kilogram on all kinds of olive oil exports, the Official Gazette announced on Wednesday.
Türkiye's olive production amounted to 2.98 million tons in 2022, jumping 71% from a year ago, according to the General Directorate of Plant Production of Agriculture and Forestry Ministry.
The country's olive oil production soared 79% year-on-year to a record high of 421,717 tons in 2022.
Speaking to Anadolu, Aegean Olive and Olive Oil Exporters' Association head Davur Er said: "Türkiye has set a target of $1 billion in olive oil exports this year, It will be a historical record."
Aysegul Selisik, assistant representative in Turkiye for the United Nations Food and Agriculture Organization (FAO), stressed that the world's total olive production was over 23 in 2021.
Stating that the number of olive trees in Türkiye has reached 189 million from 99 million in the last 20 years, Selisik underlined that the production surged accordingly.