Global olive oil production will reach 2.854 million tons for the current crop year (September 2017 through August 2018), according to preliminary estimates from the International Olive Council — a 12-percent increase over the previous year’s 2.538 million-ton output.
World production in 2017/18 is estimated at around 2.854t, which would be an increase of approximately 12 percent compared to the previous year.
The current season looks mediocre when compared with the average for the last five years (2.945 million tons) after heat waves and droughts affected some areas over the summer, falling short of the 3 million-ton benchmark reached in six years since 2004.
See more: Complete Coverage of the 2017 Olive Harvest
This year, Spain is expected to weigh in with 1.150 million tons — 10 percent less than last year. Italy is expected to produce 320,000 tons, representing a 75-percent increase over the poor results of the previous season.
Greece is back with 300,000 tons expected this year, rebounding from last season’s poor results blamed on fruit fly attacks and extended heat waves.
Portugal could set its all-time record if it achieves the 110,000 tons forecasted thanks to extensive plantings in the Alentejo region, the IOC noted.
Tunisia will more than double last year’s production to reach 220,000 tons; Output from Turkey will be stable at 180,000 tons; Morocco looks to be a little up this year with 120,000 tons, and Algeria weighs in with 80,000.
In the Southern Hemisphere, Argentina would set a record with 37,500 tons expected this season.
On the other side, the IOC said the world will consume 2.889 million tons of olive oil this year — about the same as in 2003 when there were 1.2 billion fewer people on the planet.