`Olive Council Reports Upswing in World Olive Oil Market


Olive Council Reports Upswing in World Olive Oil Market

Jul. 8, 2014
By Julie Butler

Recent News

Global sales of olive oil and olive pomace oil ral­lied in April, accord­ing to the Inter­na­tional Olive Coun­cil’s lat­est mar­ket newslet­ter.

Imports in seven key coun­tries for the first seven months of 2013/14 – Octo­ber to April – totaled 341,288 tons, down just 2 per­cent on the same period last sea­son, com­pared to 8 per­cent for the six months to March.

That’s thanks to a recov­ery in April in all of those mar­kets except China, where imports this sea­son are down 28 per­cent year-on-year.

Despite the April upswing, imports are also still down 9 per­cent in Brazil and 7 per­cent in Aus­tralia but now up 11 per­cent in Canada, 8 per­cent in Rus­sia and 7 per­cent in Japan. Imports into the U.S. for Octo­ber-April are about even with last sea­son.

EU data was not yet avail­able for April but for Octo­ber – March, intra-EU acqui­si­tions were up 5 per­cent and imports from out­side the EU down 43 per­cent. The fall in extra-EU imports seems log­i­cal given the bumper har­vest this sea­son in Spain, the IOC said.

Span­ish exports back up after low pro­duc­tion last sea­son


The IOC included a sec­tion on olive oil exports from Spain, which had a bad har­vest last sea­son and expects 2014/15 to be smaller than this sea­son.

In the first half of 2013/14, Spain shipped a total of 562,824 tons – up 64 per­cent year-on-year. Of these, 247,863 tons (+144.5 per­cent) went to Italy, 58,650 tons to the U.S. (+140 per­cent), 57,761 tons to Por­tu­gal (+19.6 per­cent), 43,375 tons to France (+29.3 per­cent) and 22,251 tons to the U.K. (+6 per­cent). Spain’s sales also increased to Japan, Aus­tralia and Rus­sia but fell in China (-29.4 per­cent) and Brazil (-34.2 per­cent).

Related News