Economy

Olive Oil, estimates 2019/20 crop year

Olive oil production has tripled in the last 60 years, reaching 3 379 000 t in the 2017/18 crop year. The production estimate for the 2019/20 crop year puts production at 3 144 000 t (-2.3%). World consumption could reach 3,094,000 t, an increase of 6.4% over the previous crop year

International Olive Council

Olive Oil, estimates 2019/20 crop year

According to official data from the countries and estimates from the Executive Secretariat, world production in the 2019/20 crop year is estimated to be around 3 144 000 t, which will mean a decrease of around 2.3% compared to the previous crop year. Imports and exports are estimated to exceed 950 000 t respectively.

IOC member countries estimate a total production of 2 942 500 t, which will represent 93.6% of the world total for the 2019/20 crop year and a decrease of 3.2% compared to the previous year.

Producer countries in the EU are forecasting a production of 2 011 000 t, a fall of 11.1% .

The rest of member countries are estimated to produce a total of 931 500 t, with an increase of 155 500 t, 20.0% more than the previous crop year.

World consumption could reach 3,094,000 t, an increase of 6.4% over the previous crop year.

The provisional data for the 2018/19 crop year show world production at 3 217 500 t, 4.8%, or 161 500 t, less than the previous crop year. Consumption is expected to fall by 4.3%, standing at 2 909 000 t, and imports and exports are to total 968 500 t and 971 500 t respectively.

IOC member countries produce a total of 3 039 500 t, representing 94.5% of the world total for the 2018/19 crop year. European countries total 2 263 500 t, an increase of 3.4% on the previous crop year. Spain is expected to produce the most, with 1 789 900 t (+41.8%), followed by Greece 185 000 t (-46.5%), Italy (-59.5%) and Portugal 100 316 t (-25.6%).

Production in other member countries is to fall by 22.9% to 776 000 t: Turkey leads with 193 500 t (-26.4%), followed by Morocco 200 000 t (+42.9%), Tunisia 140 000 t (-56.9%), Algeria 97 000 t (+17.6%), and the rest to total 145 500 t. As for consumption, member countries total 2 009 500 t, a fall of 8%, and non-IOC member countries total 899 500 t, an increase of 5.3% over the previous crop year.

Photo by Giorgio Sorcinelli

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