EU Olive Oil Exports to Reach Record Levels

The European Commission predicts that high worldwide demand combined with decreased production in non-E.U. countries will result in record E.U. exports for 2018/2019.

Port of Valencia, the busiest in Spain and fifth busiest in Europe.
Apr. 26, 2019
By Isabel Putinja
Port of Valencia, the busiest in Spain and fifth busiest in Europe.

Recent News

A report by the European Commission pre­dicts that olive oil exports from the European Union (E.U.) will reach record lev­els for the cur­rent 2018/2019 sea­son.

In its April 2019 report, Short-Term Outlook for E.U. Agricultural Markets in 2018 and 2019,’ the European Commission projects that an increase in olive oil pro­duc­tion in E.U. coun­tries com­bined with high world­wide demand and a decline among non‑E.U. pro­duc­ers will result in a record-high E.U. exports. The E.U. is the world’s biggest exporter of olive oil.

More specif­i­cally, the report pre­dicts that olive oil pro­duc­tion will grow by three per­cent for 2018/2019, and exports will rise by 11 per­cent to 625,000 tons, a record high.

See Also:Olive Oil Trade News

In 2017/2018, olive oil exports from the E.U. increased by only one per­cent com­pared to the pre­vi­ous year. According to pro­vi­sional fig­ures, 563,400 tons of olive oil were exported from the E.U. in 2017/2018, while for 2018/2019 this fig­ure is esti­mated to be 573,000 tons.

The E.U. is also the world’s lead­ing olive oil pro­ducer, with Spain being its largest pro­ducer by far, fol­lowed by Italy and Greece. In the period from 2012 to 2017, 67 per­cent of the world’s olive oil was pro­duced in the E.U. Provisional fig­ures put E.U. pro­duc­tion at 2,186,000 tons for 2017/2018 while for 2018/2019 this is esti­mated to be 2,101,000 tons.


Despite pro­duc­tion short­falls in Italy and Greece – largely due to the harsh weather expe­ri­enced in these parts of Europe last year, it is thanks to Spain’s good har­vest that the E.U.‘s pro­duc­tion fig­ures are up. Spain pro­duced 1.7 mil­lion tons of olive oil in 2018/2019, which rep­re­sents the sec­ond high­est amount since 2003.

The report points out that increased sup­ply will have an effect on prices. In February 2019, the aver­age price of vir­gin olive oil in the E.U. came to €290 per 100 kg, 17 per­cent less than the pre­vi­ous year.

The E.U. is also the world’s biggest con­sumer of olive oil: E.U. cit­i­zens con­sume between 1.5 and 1.6 mil­lion tons of olive oil a year.

The European Commission’s report cau­tions that pro­duc­tion is expected to fall for the 2019/2020 cam­paign due to insuf­fi­cient rain­fall dur­ing the first few months of 2019 in Portugal, Spain, the south of France and north­ern Italy.

The report also shares pro­jec­tions for other agri­cul­tural sec­tors. Compared to olive oil, cereal and sugar pro­duc­tion in the E.U. have faired poorly and are still slowly recov­er­ing after last year’s spell of bad weather.

The extreme weather pat­terns expe­ri­enced in some parts of Europe in late 2018 in the form of abnor­mal snow­fall, high winds, heavy rain­fall and flood­ing have been blamed for the poor olive har­vest in Greece and a record low in olive yields in Italy.


Related Articles

Feedback / Suggestions