The production of virgin olive oil in Turkey exhibited significant fluctuations from 2013 to 2023. The year-on-year variations highlight the volatile nature of production, with 2013 seeing an 8.92% decrease from the previous year. The highest year-on-year increase occurred in 2017, with a 26.95% rise, followed by a sharp decline of 29.69% in 2018. The most recent data from 2023 shows a modest 0.61% increase, reaching 177.12 thousand metric tons. The compound annual growth rate (CAGR) from 2018 to 2023 stands at 2.79%, reflecting moderate growth over the last five years.
Looking forward, the forecasted production over the next five years suggests a more stable trend, with a forecasted CAGR of 0.49%. By 2028, production is expected to grow by 2.47%, reaching 182.7 thousand metric tons.
Future trends to watch for:
- Climate change impacts on crop yield and quality.
- Technological advancements in olive farming and oil extraction.
- Shifts in global demand and export policies.
- Government regulations and support for the olive oil industry.
