Turkey fears backlash in local and foreign markets with higher prices

Like many European countries, this year’s olive harvest in Turkey is not meeting expectations, reports the Turkish daily Hürriyet. Over the past month the wholesale price of extra virgin olive oil rose from 7.5 to 10 Turkish Lira (US$3.32 to US$4.42). Some Turkish olive producers are waiting before parting with their crop, hoping prices will rise further and they can cash in on high international demand for olive oil following devastating harvests in Italy and Spain.