Notable price hike decision from Tariş for olive oil

The low harvest this year for olives, one of Turkey's key agricultural products, has affected the supply-demand balance in the market. Olives that remained in the fields in previous seasons because prices did not satisfy producers have increased in value this year. Producers in Aydın and the surrounding areas, in particular, have been positively affected by the latest price update.

While the supply contraction and rising costs in the olive oil market have challenged the sector, the new prices announced by the Tariş Olive and Olive Oil Cooperative have provided some morale to producers. Experts, noting that input costs have been rising for the last two years, emphasized that the price increase had become inevitable.

The purchase price for 5-acid olive oil, which was 140 TL in May, has risen to 190 TL with the new regulation. Edible olive oil has reached a high level of 305 TL. Sector representatives anticipate that the increase in prices will also be reflected in shelf prices.

The increased purchase prices announced by Tariş are as follows:

Edible Olive Oil: - 0.3 acid: 305 TL - 0.5 acid: 295 TL - 0.8 acid: 290 TL - 1 acid: 265 TL - 1.5 acid: 245 TL - 2 acid: 225 TL

Extra Virgin Olive Oil: - 0.3 acid: 295 TL - 0.5 acid: 285 TL - 0.8 acid: 280 TL - 1 acid crude oil: 202 TL

Experts point out that prices in the new season will directly affect both producers and consumers. It is stated that the year, which passed with a low harvest, paved the way for such an increase in olive oil prices. It is estimated that prices in markets will also follow this rise in the coming days.

News Source: 12punto