The International Olive Council released today its January summary of the world olive oil market which presented data from the last few months of 2010.
Spain saw its exports during October and November rise by nearly half, in terms of volume, to 164,875 tons. Olive oil exports from Spain within the EU rose 49 percent, while sales to non-European markets were up 52%. Spain saw much higher sales to China, Brazil, Russia and Korea.
Italy saw a 13 percent increase with 32.5 percent growth to EU countries and 9.5 percent outside the region.
Greece exports were up 9 percent. Syria expected to set an export record if initial estaimates were confirmed. Turkish exports were slightly higher than a year before.
Spain, the world’s largest supplier of olive oil, produced 29 percent more olive oil during the final two months of 2010 than a year before. Good weather was credited with a strong yield.
Strong sales gains to what the report termed “secondary” markets accounted for the overall growth in olive oil trading for the 12 months ending October 2010, led by higher than 20 percent increases to Australia, Japan, Canada and Brazil. Imported olive oil in Australia rose 13 percent during the period. Imports to the United States slipped 2 percent.
Prices for extra virgin olive oil were 17 percent higher in Italy compared with last year, and down by 3 percent in Spain and Greece.