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Forecasts suggest a recovery of production, which may reach three million tonnes

The World Olive Oil Exhibition will be held on the 2nd and 3rd of March 2016 at Madrid’s IFEMA with the presence of major olive oil importers from across the globe.

Regarding the 2015/2016 harvest, forecasts point to a recovery of production. Reaching almost three million tonnes, this global harvest represents an increase of 22 % compared to the previous one, which was reduced due to the last Spanish harvest that only amounted to 841.200 tonnes, according to data given by the International Olive Council (IOC).

Spain will once again lead the global olive oil production, reaching 1.3 million tonnes followed by Italy with 350.000 tonnes, Greece with 300.000 tonnes and Portugal with 82.000 tonnes. Tunisia will see a drop from last year’s huge harvest and will produce 140.000 tonnes, a little below Turkey who is expecting 143.000 tonnes; Syria will dramatically improve its latest harvests and could surpass 200.000 tonnes, while Morocco will maintain 130.000 tonnes.

These are the forecasts for the following producing countries: 73.500 tonnes in Algeria, 29.000 tonnes in Jordan, 25.000 tonnes both in Argentina and Egypt, 20.000 tonnes in Lebanon, 14.000 tonnes in Israel and 10.500 tonnes in Albania.

World olive oil consumption will increase by 5 % estimated to reach 2.9 million tonnes; and that is why, taking into account the absence of previous harvests’ stocks, a great year for international trade can be expected.

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Japan significantly raised its exports with an increase of 10 % compared to the last harvest, whereas the United States and China maintain theirs. The American and Chinese exports remain stable. On the contrary, Russia, Australia, Brazil and Canada have reduced exportation. A decrease in exports in Russia, Australia, Brazil and Canada was partly because of a lack of supply; in fact, Spain and Italy have had to turn to the international market –in particular to Tunisia–, in order to meet the demand.

The 5th World Olive Oil Exhibition will be celebrated on the 2nd and 3rd of March 2016, with an ever-growing participation of oil mills from olive oil producing countries, as well as buyers from all over the world.

The WOOE is a decisive trade fair for purchasers, producers and packers, where the most prestigious brands from the EVOO industry will be present. The deliberate choice of olive oil by some emerging countries is also a great opportunity for the packaging industry; and that is why this international trade fair is a not-to-miss event for market positioning.

Over the last World Olive Oil Exhibition more than 100 oil mills were gathered, giving an increase of 25 % on the number of visitors, who came from 38 different countries.

 

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