ISMEA PRESS RELEASE - With a record production of 1.8 million tonnes in 2013/14, Spain is sweeping this year on international markets for olive oil on foreign trade for the first six months of this year (Ismea based on Istat data). Even Italy, the largest market in the world, bought a quantity from Madrid four times higher than in the first half of 2013, covering, with the only arrivals from Spain, 88% of national imports.
Overall, between January and June 2014, Italy has bought from abroad 330,000 tons of oil (over 40 % higher on an annual basis ), tapping one of the highest levels of the past 15 years. With 687 million euro expenditure is, however, increased at a slower rate, around 12% .
It should be noted - explains the Ismea - which, thanks to the good performance of exports, which have exceeded 212 thousand tons (+ 12.5% on the first half of 2013 ) , for a total of 688 million euro (+ 2%), the Italian trade balance remains in surplus , although closer to balance , with a surplus of 618 thousand euro .
On the export side to grow are primarily sales of virgin and extra virgin olive oils , particularly in the North American markets, with the progress of 19 and 6 per cent respectively in volume and value. On the contrary, it marks a halt exports of Italian olive oils in China, while increasing shipments to Japan, Russia and the Scandinavian countries .