The move comes in response to a devastating drought that has hit Europe, leading to increased demand for Turkish products and a surge in the price of olive oil in Turkey.
Comment: Much of Europe has seen cooler than average temperatures thus far, and this year's drought doesn't appear to be worse than previous years, so is that really the cause? Because there are other factors to consider: Turkey's economy has been devastated by soaring inflation; inflation and the energy crisis in Europe has caused its own produce to be more expensive than usual; and, indeed, extreme weather and the erratic seasons has put a strain on supplies.
According to a statement issued by the Turkish Trade Ministry on Tuesday, producer and market prices have seen a staggering increase of 102 percent in Turkey since June.













Comment: This is just the latest export ban to come into force, with India, followed by Russia, banning exports of rice in order to stabilise the supply at home. As countries are forced to prioritise feeding their own people, or risk societal unrest at home, it's likely that these food bans are just the beginning, and next up will be the food shortages that numerous officials have been warning about for the last few years: