Virgin olive oil and fractions market Turkey

Earlier Report Observations

The Turkish virgin olive oil market showed considerable volatility in volume from 2018 to 2023. Starting at 223.5 thousand tons in 2018, it dipped slightly the next year before rising to 245.6 thousand tons in 2020. A sharp contraction followed in 2021, bringing the market down to 211.3 thousand tons, which was then followed by a surge to over 302 thousand tons in 2022. The period concluded with a correction to 234.5 thousand tons in 2023.

Market size movements closely mirrored domestic production, which varied from a low of 217.8 thousand tons in 2019 to a peak of 302.4 thousand tons in 2022. Imports, which had been a factor in earlier years, fell to zero from 2022 onward, as did exports, making production the sole source of supply in the final two years of the period. The overall trajectory resulted in a modest net increase over the six-year span, though the path was marked by significant annual swings.

Production virgin olive oil and fractions Turkey

In kind, 2017-2020, K t

Globally, Turkey ranked as the 4th largest producer of virgin olive oil and fractions from 2017 to 2020.

Top producers of virgin olive oil and fractions, 2017-2020

World map of production of virgin olive oil and fractions, 2017-2020

In 2020, Turkey produced 234.7 K t of virgin olive oil and fractions, marking a 7.8% increase compared to 2019. Over the 2017-2020 period, production grew by 6.4%, with a compound annual growth rate (CAGR) of 2.1%. The lowest production level was in 2019 at 217.8 K t, while the highest was in 2018 at 254.7 K t. The largest year-on-year decline occurred in 2019, falling by 14.5%, whereas the biggest increase was in 2018, rising by 15.5%.

Annual dynamics of production Turkey in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Turkey's production of virgin olive oil and fractions in value terms declined for the second consecutive year. In 2020, output was valued at 613.6 M $ US, showing a moderate decrease of 3.1% compared to the previous year. Over the 2017-2020 period, production value dropped by 30%, with a compound annual growth rate (CAGR) of -11.2%. The peak value was recorded in 2018 at 957.1 M $ US. The most significant decline occurred in 2019, falling by 33.8%, while the largest increase was in 2018, up by 9.2%.

Annual dynamics of production Turkey in value, 2017-2020, M $ US

Exports virgin olive oil and fractions to Turkey

Exports in kind, t

Turkey's exports of virgin olive oil and fractions in volume terms declined for the second year in a row. In 2020, exports totaled 31 056 t, showing a slight decrease of 0.7% compared to 2019. Over the 2017-2020 period, export volumes fell by 7.4%, with a compound annual growth rate (CAGR) of -2.5%. The highest export volume was in 2018 at 41 897 t. The largest decline occurred in 2019, dropping by 25.4%, while the biggest increase was in 2018, rising by 24.9%.

Annual dynamics of product's exports to Turkey in kind, 2017-2020, t

From 2017 to 2020, the main destinations for Turkey's exports of virgin olive oil and fractions in volume terms were Spain (27.9% of exports), Saudi Arabia (17.7% of exports), and the United States (14.5% of exports). Together, these three countries accounted for 60.1% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports to Turkey in kind, 2017-2020

Exports in value, M $ US

Turkey's exports of virgin olive oil and fractions in value terms declined for the second consecutive year. In 2020, exports amounted to 81.2 M $ US, indicating a robust contraction of 10.7% compared to the previous year. Over the 2017-2020 period, export value decreased by 39.1%, with a compound annual growth rate (CAGR) of -15.3%. The maximum value was recorded in 2018 at 157.4 M $ US. The largest decline occurred in 2019, falling by 42.3%, while the biggest increase was in 2018, up by 18.0%.

Annual dynamics of product's exports to Turkey in value, 2017-2020, M $ US

From 2017 to 2020, the primary destinations for Turkey's exports of virgin olive oil and fractions in value terms were Spain (26.2% of exports), Saudi Arabia (17.2% of exports), and the United States (16.0% of exports). This group collectively represented 59.4% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports to Turkey in value, 2017-2020

Imports virgin olive oil and fractions in Turkey

Imports in kind, t

Turkey's imports of virgin olive oil and fractions in volume terms increased for the third consecutive year. In 2020, imports totaled 41 907 t, up by 26.2% compared to 2019. Over the 2017-2020 period, import volumes surged by 688.5%, with a compound annual growth rate (CAGR) of 99.0%.

Annual dynamics of product's imports in Turkey in kind, 2017-2020, t

From 2017 to 2020, the import market for virgin olive oil and fractions in volume terms was highly concentrated, with Syria alone accounting for 96.3% of total imports.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports in Turkey in kind, 2017-2020

Imports in value, M $ US

Turkey's imports of virgin olive oil and fractions in value terms increased for the third year in a row. In 2020, imports reached 70.5 M $ US, showing a solid uptick of 20.8% compared to the previous year. Over the 2017-2020 period, import value grew by 246.8%, with a compound annual growth rate (CAGR) of 51.4%.

Annual dynamics of product's imports in Turkey in value, 2017-2020, M $ US

From 2017 to 2020, Syria effectively monopolized imports of virgin olive oil and fractions in value terms to Turkey, capturing 94.3% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports in Turkey in value, 2017-2020