`Spain Wraps up 2021/22 Campaign with Record Sales - Olive Oil Times
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Spain Wraps up 2021/22 Campaign with Record Sales

By Paolo DeAndreis
Oct. 26, 2022 15:36 UTC

Spanish olive pro­duc­ers sold a record-high 1.66 mil­lion tons of olive oil in the 2021/22 crop year, accord­ing to the Association of Young Farmers and Ranchers (Asaja) of Jaén. In the pre­vi­ous crop year, pro­duc­ers sold 1.64 mil­lion tons.

The National Agency for Food Information and Control (Aica) said sales reached 143,540 tons in September 2022, the last month of the crop year. On aver­age, Spanish pro­duc­ers sold approx­i­mately 138.3 tons of olive oil per month dur­ing the last sea­son.

See Also:Olive Oil-Specific Aisles Result in Superior Supermarket Sales

While some exact fig­ures are still miss­ing, offi­cials esti­mated that about 1 mil­lion tons of olive oil were sold on the inter­na­tional mar­ket.

The rest was sold for domes­tic con­sump­tion. In the 2020/21 crop year, the International Olive Council esti­mated olive oil con­sump­tion in Spain reached 538,000 tons.

Officials added that the crop year would end with 453,420 tons of olive oil stocks, with more than 224,000 tons stored by bot­tlers, 218,000 tons stored by mills and 11,000 tons stored by Olivarero Communal Heritage.

Expected end­ing stocks from the 2021/22 crop year are in line with pre­vi­ous ones, and they will be cru­cial in sup­ply­ing the mar­ket in the cur­rent sea­son, as global olive oil pro­duc­tion is expected to drop.

In its offi­cial har­vest fore­cast, the Ministry of Agriculture esti­mated that pro­duc­tion would reach 781,000 tons in the cur­rent crop year, about 700,000 tons lower than the 2021/22 total. However, other stake­hold­ers believe the total will be closer to 900,000 or 1 mil­lion tons.

One notable exam­ple of nor­mally fruit­ful regions expe­ri­enc­ing sharp pro­duc­tion decreases comes from Sierra de Segura, a region in Jaén with a Protected Designation of Origin (PDO) cer­ti­fi­ca­tion.

The local coun­cil in charge of admin­is­ter­ing the PDO cer­ti­fi­ca­tion said it expected vol­umes to fall by 57 per­cent this year, with the region pro­duc­ing slightly more than 12,000 tons of extra vir­gin olive oil.

Despite the his­tor­i­cally low pro­duc­tion esti­mates for the com­ing har­vest, Luis Carlos Valero, Asaja Jaén’s direc­tor and spokesman, said he did not expect sig­nif­i­cant shocks in the mar­ket.

“The mar­ket will have to be reg­u­lated, and it will be reg­u­lated by prices or with the diver­sion of con­sump­tion to other fats,” he said. ​“I don’t think we’ll get to mar­ket short­ages, but it makes mar­ket­ing pack­aged olive oil very com­pli­cated.”

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