According to the latest production figures released by the International Olive Council (IOC), world olive oil output for the 2015/2016 season has been better than initially expected. This year’s total, estimated to exceed 3.225 million tons, will come close to the record 3.271 million tons produced in the 2013/2014 production season.
This year’s global output is 33 percent higher than the previous season, representing an increase of 790,500 tons.
The world’s largest olive oil producers, Spain and Italy, have had a strong season with a 65-percent increase in production for Spain, and a 112-percent increase for Italy compared to the 2014/2015 season which was the worst experienced by both countries in the past two decades. Greece has also seen a slight increase of 3 percent, while Portugal is poised for a 65-percent rise in production.
A few olive oil producing countries outside the European Union like Algeria, Morocco, Libya, and Egypt will have only slight increases, with the most significant figures coming from Argentina, which has seen a 317-percent boost in its production. Modestly higher results were noted in Iran (30 percent) and Jordan (26 percent).
Meanwhile, a few countries have experienced a decrease in production, notably Tunisia with 59 percent less than last year, which was a record production for the North African country. Turkey, Israel, Albania, and Lebanon are also experiencing a decline in olive oil production for the 2015/2016 season.