The U.S. imported 306,844 tons of olive oil during the first 11 months of the 2015/2016 harvest season and, for the first time, more of it was from Spain than Italy.
The United States is on pace to import a record-setting amount of olive oil this year, according to figures released today by the International Olive Council (IOC).
For the first 11 months of the 2015/16 crop year, the U.S. imported 306,844 tons of olive oil and, for the first time, more of it was from Spain than Italy.
See Also:Global Olive Oil Production, 1990 – 2015 (IOC)
In fact, according to the IOC, Spanish exports to the States were up 43 percent over last year. A strong harvest season, competitive pricing and aggressive promotional efforts are among other factors that led to the dominant results for the world’s largest olive oil producer.
The U.S. consumes more than 10 percent of the global olive oil supply with per capita consumption maintaining at around one liter per year.
Another huge market where Spain is the dominant supplier is China, which imported 11 percent more olive oil than during the same period year before. More than three-fourths of Chinese olive oil imports were virgin grade.
After a period of falling imports, Australia brought in 11 percent more olive oil from abroad than the year before but Brazil, which has been seen as a fast-growing New World market, posted a decline of 4 percent for the 11-month period.
More articles on: import/export, International Olive Council (IOC), olive oil consumption
Jun. 20, 2023
Reviews Pour in for Starbucks Oleato
From indigestion to pleasantly nutty notes, customers in the United States and Europe have come to mixed conclusions about the olive oil-infused coffee beverages.
Jun. 5, 2023
Farmers and Consumers React to Rising Olive Oil Prices
As drought pushes production prices up across the Mediterranean, farmers and consumers adapt.
Mar. 13, 2024
How an Olive Oil Lover Found Success in The US Market
After discovering her passion for extra virgin olive oil in Crete, Joanne Lacina built a successful importing and online retail business in the U.S.
Aug. 24, 2023
Olive Oil Prices Soar in Greece
The shortage of olive oil stocks in Europe and domestic inflation are pushing prices to new heights.
Dec. 12, 2023
Role of Women in Sector Takes Center Stage at World Olive Day
Celebrated at the International Olive Council’s headquarters in Madrid, the event spotlighted the role women play in the olive sector.
Jun. 13, 2023
The Best Olive Varieties for Hobby Growers in Northern California
Whether it is for ornamental purposes or for small-scale table olive or oil production, these olives are perfectly suited to Northern California backyards.
Jun. 27, 2023
How Awards Helped One Tunisian Producer Thrive in the Lucrative U.S. Market
The NYIOOC award-winning producer behind Massiva combines generations of olive oil production experience with adept marketing.
Aug. 14, 2023
Tunisia Has a Plan to Boost Its Olive Oil Industry
The strategy aims to increase annual production of extra virgin olive oil while growing packaged exports and domestic consumption.