International Shortage of Olive Oil to Be Compensated by Spain
European Union olive oil producers fared poorly this year. Spain, the notable exception, is well poised to make up the difference in the export market.
Spanish olive oil proÂducÂtion is expected to increase to 1.76 milÂlion tons in the 2018/19 seaÂson, with exports proÂjected to rise by almost 40 perÂcent comÂpared to the preÂviÂous seaÂson, largely due to decreased proÂducÂtion in other counÂtries like Italy and Greece. Spain’s olive oil proÂducÂtion will account for three-quarÂters of total EU proÂducÂtion in the upcomÂing seaÂson, with conÂsumpÂtion in Spain also risÂing as prices drop, and the sucÂcessÂful harÂvest seaÂson is attribÂuted to cliÂmate change leadÂing to optiÂmal weather conÂdiÂtions for olive growth.
According to the latÂest estiÂmates released by the European Commission, Spanish olive oil proÂducÂtion is proÂjected to reach 1.76 milÂlion tons in the 2018/19 seaÂson, up from 1.39 milÂlion tons the preÂcedÂing seaÂson.
Ironically, Spanish olive oil proÂducÂers have cliÂmate change to thank for the sucÂcessÂful harÂvest seaÂson.
Spain is expected to export 1.22 milÂlion tons this seaÂson, up almost 40 perÂcent from the 2017/18 seaÂson. This is largely in response to the sharp decrease in proÂducÂtion in other counÂtries, such as Greece and Italy.
Italy is proÂjected to proÂduce just 226,000 tons of olive oil in the 2018/19 seaÂson, less than half the amount of the preÂcedÂing harÂvestÂing seaÂson. Greece will fall by 35 perÂcent to 248,000 tons and Portugal will drop almost 20 perÂcent, down to 121,300 tons.
See Also:Olive Oil ProductionOverall, European Union olive oil proÂducÂtion numÂbers are expected to remain fairly staÂble, at 2.375 milÂlion tons in 2018/19 comÂpared with 2.410 milÂlion tons in 2017/18.
Spain’s proÂducÂtion will make up three-quarÂters of total EU olive oil proÂducÂtion in the 2018/19 seaÂson, and more than half of the worldÂwide proÂducÂtion.
After a slight dip over the holÂiÂday seaÂson, exports are expected to pick up again in January. Consumption in Spain is also increasÂing in the 2018/19 seaÂson after prices dropped back down below €3.00 ($3.42) per kiloÂgram for extra virÂgin olive oil, and is expected to reach 578,700 tons.
Davide Granieri, presÂiÂdent of the Italian olive oil conÂsorÂtium Unaprol, blamed this year’s disÂapÂpointÂing crop on cliÂmate change, fraud and the tarÂiff-free influx of Tunisian olive oil into the EU marÂket.
Italy is also still in the throes of an infesÂtaÂtion of Xylella fasÂtidiosa, a plant pathogen that is ravÂaging olive oil groves in the eastÂern part of the counÂtry. A few cases of Xylella fasÂtidiosa were found in Spain as well last year.
The majorÂity of this year’s crop so far was harÂvested in December, when Spain colÂlected 679,000 tons of olive oil, the secÂond-most proÂducÂtive month in the last decade. The province of Jaén is responÂsiÂble for 40 perÂcent of Spain’s olive oil proÂducÂtion, equatÂing to more than Greece and Italy comÂbined.
Ironically, Spanish olive oil proÂducÂers have cliÂmate change to thank for the sucÂcessÂful harÂvest seaÂson.
Unseasonable cold snaps and heat waves lined up perÂfectly to proÂduce a bumper crop of olives in many regions this year. Jaén sufÂfered a worse-than-expected harÂvest in November due to poor weather, but manÂaged to comÂpenÂsate for it in December.
The cliÂmate in January will deterÂmine whether Spain reaches the estiÂmated olive oil proÂducÂtion figÂures for the 2018/19 seaÂson.
The most imporÂtant olive oil proÂducÂing counÂtries outÂside of the EU are also seeÂing a drop in figÂures. Tunisia and Turkey are expected to fall by around 50 perÂcent and only Morocco will increase its proÂducÂtion, reachÂing about 50 perÂcent more than the preÂviÂous seaÂson.
According to the latÂest figÂures from the International Olive Oil Council, worldÂwide olive oil proÂducÂtion for the 2018/19 seaÂson is expected to reach 3.451 milÂlion tons, down slightly from 3.653 milÂlion tons in the 2017/18 harÂvestÂing seaÂson.
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