The recovery of the olive oil production in Spain and Italy forecasts an increase in the 2015-2016 harvest

The global olive oil stocks at the end of the harvest will be close to 300.000 tonnes and therefore the 2015/2016 harvest is not expected to be a large one. However, it might exceed the previous one by 10%, thanks to the recovery of the production in Spain and Italy, the biggest global producers. This represents between 2.6 and 2.7 million tonnes, compared to the 2.3 million from the previous harvest, according to an extensive study carried out by GEA Westfalia.

This scenario will have a positive impact on quality virgin olive oil sales and will result in a bigger presence of bottled olive oils across worldwide markets, according to the general secretary of the Sectorial, José Manuel Bajo, who also foresees a greater participation of the designations of origin.

GEA Westfalia expects a harvest of 1.26 million tonnes in Spain, 335.000 tonnes in Italy, which doubles the previous one, and 240.000 tonnes in Greece, which drops by 20%. Regarding Portugal, it is predicted to raise its production to up to 93.000 tonnes, while France and Cyprus will increase up to 6.000 tonnes, and Croatia will remain with 5.000 tonnes.

The production growth in Spain, Italy and Portugal forecasts intense commercial exchanges after a difficult season (2014/2015), in which Spain increased its purchases in Tunisia by 831% and Italy by 255%, while exchanges among the EU countries raised by 11%.

Such production growth will be reflected in the next World Olive oil Exhibition, which will hold its 5^th edition on the 2^nd and 3^rd of March 2016, with an important participation of oil mills from producing countries, as well as buyers from all over the world.

The WOOE is a decisive trade fair for buyers, 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 the WOOE 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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OTHER FIGURES OF INTEREST

According to the same study carried out by GEA Westfalia, Tunisia will decrease its production to 145.000 tonnes, after a record number of 280.000 tonnes in the 2014/2015 harvest. Morocco’s production will shrink to 105.000 tonnes and Turkey to 165.000 tonnes; while the armed conflict takes its toll on Syria’s production, which will drop off to 45.000 tonnes.

In the American continent, Argentina will recover from the drop of the last harvest and will attain 24.000 tonnes; while Chile will arrive at 16.000 tonnes, United States: 6.000 tonnes, Peru: 3.500 tonnes, and Uruguay: 2.000 tonnes, meanwhile Australia is predicted to reach 19.000 tonnes.

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