` Global Olive Oil Production Forecast to Drop 20 Percent

Europe

Spanish Olive Oil Production Will Drop By Nearly Half, Report Says

Sep. 24, 2014
By Danielle Putier

Recent News

Fol­low­ing this year’s try­ing times for Spain’s olive oil har­vest, a recent report by the Inter­na­tional Cen­tre of Excel­lence for Olive Oil at GEA West­falia Sep­a­ra­tor Ibérica expects global olive oil pro­duc­tion to decrease 20 per­cent with total out­put pro­jected to be 2,618,000 tons, accord­ing to Europa Press.

Spain’s pro­duc­tion is esti­mated to drop by almost 50 per­cent to 960,000 tons, slid­ing the olive oil leader back to 36 per­cent of global pro­duc­tion, while other coun­tries such as Greece and Italy will see a sig­nif­i­cant rise.

Italy was reported to have an out­stand­ing year for crop growth in the regions of Puglia, Abruzzo, Umbria and Cam­pa­nia, thereby increas­ing pro­duc­tion to 450,000 tones, a 15 per­cent rise. US pro­duc­tion is expected to drop by 19 per­cent while other coun­tries, like Morocco, New Zealand and Chile, will also see a decline.

Cli­mate and weather vari­ants are the main causes of the pro­duc­tion fluc­tu­a­tions, the report claims.

Prices will likely reflect the changes in pro­duc­tion. Pres­i­dent of GEA West­falia Sep­a­ra­tor Ibérica, Juan Vilar com­mented on prices at ori­gin stat­ing, a restrained upward trend will con­tinue until the start of the cam­paign in Por­tu­gal, which will hap­pen in about two weeks. From there, if the trend of the offer is rat­i­fied, prices should keep sta­ble, after falling between 5 and 15 per­cent, between 2.2 and 2.5 euros per kilo.”

Source: GEA West­falia

GEA West­falia Sep­a­ra­tor Ibérica is part of the larger GEA West­falia world sep­a­ra­tion tech­nol­ogy com­pany and was founded in 1966. The branch pro­vides tech­nolo­gies to over 45 coun­tries on five con­ti­nents.

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