`Global Olive Oil Consumption Slips 7 Percent - Olive Oil Times

Global Olive Oil Consumption Slips 7 Percent

By Gaynor Selby
Dec. 8, 2015 10:56 UTC

Higher prices and stiff com­pe­ti­tion led to a 7 per­cent decline in global olive oil con­sump­tion, accord­ing to the lat­est fig­ures released by the International Olive Council (IOC).

World con­sump­tion for the 2014/15 crop year was assessed at 2.85 mil­lion tons, while in Europe con­sump­tion fell by 11 per­cent to 1.5 mil­lion tons, account­ing for most of the down­turn.

Consumption was sta­ble in most of the other IOC mem­ber coun­tries with the excep­tion of Turkey where it rose 40 per­cent and in Algeria where it increased 33 per­cent.

Japan saw a 9 per­cent rise in usage over the pre­vi­ous year thanks to ongo­ing mar­ket­ing and pro­mo­tional cam­paigns which, the IOC said, are dri­ving sales.

The Council of Members met in Madrid recently to rub­ber stamp world olive oil bal­ances for the 2014/15 and 2015/16 crop sea­sons.

On the pro­duc­tion side, the IOC con­firmed the dis­mal out­put of a record down year that saw world­wide out­put drop to 2.4 mil­lion tons — or about 450,000 tons less than the world con­sumed — result­ing in low stocks and higher prices that char­ac­ter­ize the cur­rent mar­ket.

EU olive oil pro­duc­tion was assessed at 1.4 mil­lion tons, record­ing a decrease of 42 per­cent on the pre­vi­ous sea­son.

Spain was the largest olive oil pro­ducer with 841,200 tons, fol­lowed by Tunisia (340,000), Greece (300,000), Italy (220,000), Turkey (170,000), Morocco (120,000), Syria (105,000), Algeria (69,500), Portugal (61,000 tons), Jordan (23,000), Egypt and Lebanon (21,000 tons each), Israel (17,500), Libya (15,500), Albania (11,000), Cyprus (6,200), Argentina (6,000) and Iran (4,500), France (1,900), Croatia (1,000) and Slovenia (200).

For this year (2015/2016), the IOC esti­mated pro­duc­tion to reach 2,988,500 tons, a 22 per­cent increase. This fore­cast posi­tions pro­duc­tion halfway between the lev­els of 2014/15 and 2013/14.” it said.

Further item­iza­tion shows pro­duc­tion fore­casts of 1.3 mil­lion for Spain, 350,000 tons for Italy, 300,000 tons for Greece and 82,000 for Portugal. Smaller ton­nages are fore­cast for the rest of the EU pro­duc­ers.”

Elsewhere in other IOC mem­ber coun­tries such as Turkey, Tunisia, Israel, Lebanon and Albania, the out­look is poorer with pre­dic­tions of an over­all 8 per­cent pro­duc­tion decrease com­pared with 2014/15.

Syrian pro­duc­tion is fore­cast to increase to 215,000 tons, in Morocco 130,000 tons, Algeria 73,500 tons, Jordan 29,000 tons, Argentina and Egypt 25,000 tons.

  • IOC November 2015 Newsletter (PDF)


Related Articles