Economy

Olive oil performance in 2017/18

The group of experts who are responsible for monitoring olive oil statistics for the IOC met on 1 October at headquarters in Madrid. According to the provisional data provided by the countries, global production reached 3 315 000 t in the 2017/2018 crop year, although the data is only provisional.

International Olive Council

Olive oil performance in 2017/18

Olive oil: provisional data for 2017/18. This indicates a 28% increase, 723 500 t more than the previous crop year. Consumption stands at around 2 958 000 t (+9%), and imports and exports total 889 000 t and 925 000 t respectively. The member countries of the IOC produced a total of 3 133 500 t, or 94.5% of the total world production for 2017/18.

EU countries accounted for 2 183 000 t, an increase of 25%. In Spain, production fell by 2.7% to 1 256 200 t, while increases were seen in Italy, with 428 900 t (+135.3%); Greece, with 346 000 t (+77.4%); and Portugal, with 134 800 t (+94.2%). Figures for other EU producer countries came to 17 100 t. In the other IOC member countries, production increased by 46.2% overall, with a total of 950 500 t.

This was led by Tunisia, with 280 000 t (+180%), followed by Turkey, with 263 000 t (+47.8%); Morocco, with 140 000 (+27.3%); Algeria, with 82 500 t (-31%); Argentina, with 43 500 t (+81.3%). Other member countries amount to 141 500 t.

Consumption in member countries totalled 2 958 000 t, an increase of 8.1% on the previous crop year. In other member countries, consumption is set to come in at around 2 103 000 t for a 9.7% year-on- year increase. In non-member countries, consumption will stay around 855 000 t (+4.2%) compared to the previous crop year.

Photo by Olio Officina

To comment you have to register
If you're already registered you can click here to access your account
or
click here to create a new account

Comment this news

Your email address will not be published.