The price of one of the most popular products in Cyprus, olive oil, has doubled since last year. Speaking to Diyalog, producers said that the olive harvest has decreased due to drought and other problems. Producers said that more serious problems are expected in the coming years and that oil prices will increase even more.
Pointing out that the prices charged at mills have also increased due to increases in labour and other expenses, the producers said that a 5-litre drum of fresh olive oil is sold between 1,400 and 1,700 Turkish Lira.
Mustafa Karamustafa (Olive Oil Factory Supervisor) “I run Aydın Şirinevler Oil Factory. People picking their olives have been coming to the mill for around a month and a half, but this year is the worst time in 8 years. Olives are very scarce and oil prices have increased very much. Conditions for the needed yield of olives were bad. Last year, we charged 120 TL for oil extraction of 20 litres. This year, with the increasing costs, spare parts, and labour prices, we are increasing the price of 20 litres of oil to 350 TL. We sell 5 Litres of olive oil for 1,400 TL. 5 Liters of oil is sold for 1,600 TL outside of the factory.”
Ramadan Kelebek (Producer) “Olives are scarce this year. I was producing 10-12 yellow cans of oil every year. This year I was only able to produce 3 cans. Olives are scarce due to the drought this year. In addition to the scarcity of olives, olive oil prices have also increased significantly this year. The importance and value of olive trees, which are unfortunately being cut down, will only be known in the future.”
Ali İhsan Eskiköy (Producer) “We have started to collect our olives and bring them to the mill. However, we received a very small crop due to a dry year. Due to the scarcity of olives, the prices of olive oil and the costs of oil extraction have increased greatly. The reason for this is the increasing costs due to the increase in foreign currency. The rise in olive oil prices will increase even more if we do not protect our olive trees and turn a blind eye to them being destroyed.”
Erdal Arabacıoğlu (Producer) “We collected olives and came to the mill. However, due to the drought this year, we received half of the crop we received last year. This year, both the extraction and price of olive have doubled or even tripled.”
