What is the price of olive oil per kilogram/pound in Turkey today?
The retail price range for Turkey olive oil is between US$ 8.60 and US$ 15.72 per kilogram or between US$ 3.90 and US$ 7.13 per pound(lb). Click here to see today's exact prices of olive oil in Turkey
The retail price range in Turkish Lira for olive oil is between TRY 170.34 and TRY 311.47 per kilogram or between TRY 77.25 and TRY 141.26 per pound(lb) in Ankara and Istanbul.
Wholesale prices
In 2024, the approximate wholesale price range for Turkey olive oil is between US$ 6.02 and US$ 11.01 per kilogram or between US$ 2.73 and US$ 4.99 per pound(lb).
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Turkey Olive Oil Export Prices - Historical, Trends and Prediction
The export price of Olive Oil from Turkey over the last five years has been quite varied. In 2017, the price per kilogram was 3.88 US dollars, followed by a decrease to 3.49 US dollars in 2018. In 2019, the price dropped further to 2.58 US dollars, and then to 2.33 US dollars in 2020. This year, 2021, the price has increased to 3.00 US dollars. Looking ahead, it is predicted that the export price of Olive Oil from Turkey will be 3.66 US dollars in 2022, and is expected to remain at this level in 2023 and 2024.The olive oil exports from Turkey are categorised as:
- Virgin olive oil and its fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (HS code 150910)
- Other oils and their fractions, obtained solely from olives, whether or not refined, but not chemically modified, incl. blends of these oils or fractions with oils or fractions of heading 1509 (HS code 151000)
- Olive oil and fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (excluding virgin and chemically modified) (HS code 150990)
Turkey Olive Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Olive Oil into Turkey over the last five years has been relatively stable. In 2017, the price was 3.88 US dollars per kg, followed by 3.49 US dollars per kg in 2018. In 2019, the price dropped to 2.58 US dollars per kg, and then further decreased to 2.33 US dollars per kg in 2020. The price then increased to 3.00 US dollars per kg in 2021, and then to 3.66 US dollars per kg in 2022. Based on this trend, it is predicted that the import price per kilogram of Olive Oil into Turkey in 2023 will be around 3.90 US dollars per kg, and in 2024 will be around 4.30 US dollars per kg.Export values for Turkey olive oil
The total values in export for olive oil in Turkey were US$ 72,745, US$ 207,638, US$ 262,559 and US$ 142,695 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Turkey: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of olive oil in other countries across Middle East: Bahrain olive oil, Cyprus olive oil, Iraq olive oil, Israel olive oil, Jordan olive oil, Kuwait olive oil, Lebanon olive oil, Palestine olive oil, Oman olive oil & Qatar olive oil.
Turkey olive oil - Production, Exports, Imports, Seasons and HS Codes
The volume of olive oil sold by Turkey in 2020 was 60,371 metric tons. In 2019 Turkey exported 54,996 tonnes of olive oil. For 2019 alone, the interest in Turkey olive oil (processed category) has shrunk, with a change of -26.799 percent compared to the year 2018. Between 2017 and 2019, olive oil's exports grew by 2.88 percent earning Turkey US$142.70m for the year 2019. Turkey's olive oil exports are categorised as:
- Virgin olive oil and its fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (HS code 150910)
- Olive oil and fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (excluding virgin and chemically modified) (HS code 150990)
- Other oils and their fractions, obtained solely from olives, whether or not refined, but not chemically modified, incl. blends of these oils or fractions with oils or fractions of heading 1509 (HS code 151000)
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Turkey olive oil export values
In 2019, Turkey shipped olive oil valued at 142.70m USD, a drop of -45.65% from 2018's total olive oil export of 262.559m USD. The annual reduction in value of Turkey olive oil between 2017 to 2018 was 26.45 per cent.
The annual/yearly change in the quantity of Turkey's olive oil exports between 2017 and 2019 was 2.88% in comparison to a variation of -26.799% in the period between 2018 and 2019.
Turkey's share of the world's total olive oil's exports in 2019 was less than 1%. The country is ranked number 55 in world exports of olive oil.
Export markets for Turkey olive oil ( in '000$ )
Turkey's best performing destinations for olive oil are US, Saudi Arabia, Ivory Coast (Côte d'Ivoire
), Syria and Morocco.
Import/Export Trends
Turkey is a net importer of olive oil. The annual growth of Turkey olive oil in value between 2015 to 2019 was 28%, per year, while annual growth in quantity through the same period was 3%, per annum.
Turkey imported 27,967 tonnes of olive oil in 2019.