Küçükbay Yağ ve Deterjan Sanayi A.Ş., accounting for 15 percent of the olive oil market and recording a turnover of $140 million at the end of 2006, intends to expand by 25 percent in 2007 and introduce itself to rest of the world with its own brand of olive oil.
Küçükbay Chairman Ahmet Küçükbay said they have chosen the United States and Japan as target markets, with their Orkide Riviera and Orkide Olive Oil brands in new packaging.
Saying that Turkey has the capacity to produce 200,000 tons of olive oil per year and with domestic consumption standing at 70,000 tons per year, Küçükbay added: “The annual production capacity in Italy and Spain is 750,000 and 1 million tons, respectively. Turkey should open up to the rest of the world with its own brand in order to secure a place in the olive oil market. This is the best way to compete with European countries. In light of this fact, we have new packaging and have accelerated exports of olive oil to the United States and Japan.”
Explaining that developed countries are increasing their use of biodiesel and that the price of soy and canola oil as raw materials has increased by $50-100 per ton in the last two years, Küçükbay added: “EU countries have been using biodiesel instead of petroleum-based fuel since Jan. 1, 2005, amounting to approximately 2 percent of all fuel used. The use of biodiesel is expected to increase by 1 percent every year and is seen as an alternative source of energy.”
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