`Spanish Olive Oil Exports Surpass One Million Metric Tons


Spanish Olive Oil Exports Surpass One Million Metric Tons

Sep. 25, 2014
By Olive Oil Times Staff

Recent News

Less than one month away from wrap­ping up the cur­rent (2013/14) cam­paign, reports out of Spain indi­cate that the coun­try has sur­passed one mil­lion met­ric tons in exported olive oil for the first time in his­tory.

Accord­ing to El Pais, Spain’s export mar­ket has been grow­ing steadily in recent years and is nearly dou­ble that of its cur­rent domes­tic demand. While the inter­nal mar­ket has fluc­tu­ated min­i­mally around 550,000 MT, exports have almost dou­bled, increas­ing from an aver­age of around 600,000 MT in the 90s to an esti­mated 1.1 mil­lion MT for the sea­son end­ing this month.

Accord­ing to Aso­liva, the marked increase in exports this cam­paign is mainly due to a record har­vest (1,775,000 MT) that occurred when prices were already low. More­over, Spain was vir­tu­ally the only coun­try among its com­peti­tors in Europe and North Africa (namely Greece, Italy, Turkey and Morocco) to have a stel­lar har­vest.

The record is short-lived, how­ever, with ana­lysts pre­dict­ing a steep drop-off in Span­ish olive oil pro­duc­tion for the 2014/15 sea­son.

The main export mar­ket for bot­tled olive oil, as usual, was the Euro­pean Union (60,000 MT), fol­lowed by the United States (20,000 MT), Aus­tralia and Brazil (17,000 MT each), China (12,000 MT), Japan (8,000 MT) and Rus­sia (7,000 MT). Spain is cur­rently the lead­ing exporter to the United States, China and Japan, while Italy retains its foothold in Ger­many and Canada.

Two com­pa­nies have been cru­cial to the rapid growth of the U.S. mar­ket. The first is the Sevilla-based Por­tuguese com­pany Sovena, which was forced to buy Span­ish oil to meet its demand in the United States; the sec­ond, Pom­per­ian, is a sup­plier to Costco.


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