Olive trees' Campaign: decreasing production, increasing consumption
Estimates of the International Olive Council
The ratings show the ups and downs of the year as the industry recovers from the pandemic. Consumption has remained stable, but production has decreased and the price trend reflects the oscillation between supply and demand
According to the estimates of the International Olive Council (Coi), the data for the 2020/21 campaign, albeit provisional, put production at 3,034,000 t, down 6.9% compared to the previous campaign. Instead, consumption is better, which stands at around 3,211,000 t (-0.2%). Imports are expected to be around 1,074,000 t (-9.3%), while exports are expected to reach 1,132,000 t, down 8.8% compared to the previous year.
In the first places in production are the member countries of the IOC, which alone will produce 2,834,000 tons, or 93.4 % of the world total in the 2020/21 vintage. European production is expected to reach 2,057,000 t, an increase of 7% compared to the previous year. Leading the EU group is Spain, which is expected to record an increase of 24.4%, with an estimated production of 1,400,000 t. Italy follows with 270,000 t (-26.2%), Greece with 270,000 t (-1.8%) and Portugal with 100,000 t (-28.8%).
Production in the other member countries is expected to be 777,000 t (-32.4%). In Tunisia, production is expected to reach around 140,000 t (-68.2%), followed by Turkey with 210,000 t (-8.7%), Morocco with 160,000 t (+ 10.3%) and Algeria with 90,000 t (-28.7%).
Another 200,000 tons are expected from countries not yet members, namely Syria, Australia and Chile.
The United States is in the yellow jersey for imports with 33% of the total imported product in the 2020/21 vintage. Followed by the EU with 21%, Brazil with 9%, Japan with 6%, Canada with 5%, China with 4% and Australia with 3%, Mexico and Russia with 2% and other countries with 15%.
Prices also decreased in the first part of the agricultural year, from € 480 / 100kg in Bari (Italy) to € 200 in Chania (Greece).
For more information: https://www.internationaloliveoil.org/what-we-do/economic-affairs-promotion-unit/#prices
EFA News - European Food Agency