Olive Oil Production and Consumption Down in Spain
Spain’s olive oil proÂducÂtion for the first three months of the seaÂson is sigÂnifÂiÂcantly lower than last year, with exports and domesÂtic conÂsumpÂtion also declinÂing. However, table olive proÂducÂtion has decreased slightly, while sales have increased both domesÂtiÂcally and interÂnaÂtionÂally.
Spain’s olive oil proÂducÂtion for October to December, the first three months of the seaÂson, totaled just 383,000 tons, well under half of that for the same period last seaÂson, accordÂing to the latÂest marÂket update from its Olive Oil Agency (AAO).
Yield is slightly down on last year, curÂrently averÂagÂing 17.23 perÂcent from just over 2.2 milÂlion olives.
And sales have declined, too, with exports 19 perÂcent and domesÂtic conÂsumpÂtion 17 perÂcent lower than for the same period last seaÂson.
The counÂtry imported 7,700 tons of olive oil in December to reach a total of 20,400 tons for the first quarÂter of the seaÂson and its total stocks at the end of December totaled nearly 800,000 tons, the AAO inforÂmaÂtion shows.
Table olives
Production for the 2012/13 table olive seaÂson, which started on September 1, has reached 464,690 tons, down a tenth on last seaÂson.
Sales are up 11 perÂcent, with 101,540 tons already exported and 59,260 tons sold in the domesÂtic marÂket.
Olive oil conÂsumpÂtion down in Spain
Meanwhile, accordÂing to the latÂest surÂvey by the Spanish govÂernÂment, houseÂhold conÂsumpÂtion of olive oil is down 16.1 perÂcent on the same time a year ago.
The figÂures, from last November, show that overÂall houseÂhold food conÂsumpÂtion was nevÂerÂtheÂless up 2 perÂcent in the counÂtry, where the jobÂless rate is now 26 perÂcent and nearly six milÂlion peoÂple are out of work.
The POOLred ex-mill refÂerÂence price for olive oil as at January 30 was €2.86/kg, up from €2.76 a week before.
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