The final estimate for the 2019 olive oil yield in Spain has come to 1.2 million tons, about eight percent below the five-year rolling average, according to data obtained and analyzed by Oleorevista.
The data comes from various olive oil producer organizations as well as several regional governments.
Andalusia, which is the largest olive oil-producing region in the country by far, is expecting a harvest of about 984,000 tons. This figure represents a 32 percent decrease compared to last year’s record-breaking harvest and a seven percent decrease compared with the five-year rolling average.
The final estimate for the 2019 harvest has been consistently revised upward, in part due to good weather conditions in the autumn. Back in the summer, producer organizations estimated production would be about one million tons.
Many olive oil-producing nations in the Mediterranean basin are forecasted to have good harvests in 2019, which is likely to increase Spain’s substantial olive oil stock to two million tons.
© Olive Oil Times | Data source: International Olive Council
“[We must] sell much more oil to ensure that production and consumption remain balanced, and from that balance, we have a [sustainable] price,” Spain’s Association of Young Farmers and Ranchers (Asaja) said in response to the latest harvest prediction.