Tunisian Olive Oil Exports Reach Record High
Tunisia’s olive oil exports reached a record high of 242,000 tons from November 2014 to June 2015, with expecÂtaÂtions to rise to 260,000 tons by the end of the seaÂson, genÂerÂatÂing close to 1.5 bilÂlion Tunisian Dinars in revÂenue. This increase in exports is attribÂuted to a sucÂcessÂful harÂvest seaÂson in Tunisia, conÂtrastÂing with the poor harÂvests expeÂriÂenced by European olive proÂducÂers, leadÂing to higher prices for Tunisian olive oil on the interÂnaÂtional marÂket.
Figures released by Tunisia’s minÂistry of agriÂculÂture reveal that exports of olive oil reached a record high of 242,000 tons from November 2014 to the end of June 2015.
According to a press release pubÂlished this week by the minÂistry, the volÂume of exports is expected to rise to 260,000 tons by the end of the seaÂson. This is a seven-fold increase comÂpared to the preÂviÂous seaÂson with this year’s exports repÂreÂsentÂing revÂenues of close to 1.5 bilÂlion Tunisian Dinars ($760 milÂlion).
While many European olive proÂducÂers expeÂriÂenced disÂasÂtrous harÂvests durÂing the 2014/15 seaÂson, Tunisia has enjoyed record yields with an increase of 300 perÂcent comÂpared to the 2013/14 seaÂson.
Seventy-three perÂcent of Tunisian olive oil was exported to the European Union — with 39 perÂcent delivÂered to Italy and 28 perÂcent to Spain — while 17 perÂcent was imported by the United States. Spanish imports of Tunisian olive oil increased by 831 perÂcent comÂpared to the preÂviÂous year, while in Italy this figÂure stands at 255 perÂcent.
Due to reduced interÂnaÂtional supÂply, Tunisian proÂducÂers were able to take advanÂtage of higher prices for their oil. At the end of December 2014, they received €2.73 per kiloÂgram which increased to €3.48 per kiloÂgram by the end of June 2015.
Tunisia has expeÂriÂenced an excepÂtional agriÂculÂtural seaÂson thanks to the olive crop which is good news for the othÂerÂwise bleak Tunisian econÂomy.
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