GEA Iberia estimates a drop of 8 per cent in global olive oil production in the 2016-2017 campaign compared to the previous one, according to the organisation's yearly report.
As reported on efeagro.com, GEA Iberia's study, directed by Juan Vilar, Executive Vice President, gathered information from 500 sources in 47 olive oil producing nations.
Despite the fact that the planted surface of olive trees has grown globally (about 1 per cent or 85,000 more hectares), total production has experienced a decline. Europe, which concentrates 78 per cent of the global offer, will see its production fall over 4 per cent due to decreases in Italy (74 per cent), Greece (26 per cent)and Portugal, while Spain experiences growth of 9 per cent and Turkey of 17 per cent.
Spain is again the world's number one producer with 1,530,000 tonnes, followed by Italy (270,000), Greece (245,000) and Turkey (173,000).
In Africa, a bloc that gathers 11 per cent of the global production, production is also going decreasing: Tunisia's olive oil production fell by 27 per cent and Morocco's dropped 18 per cent.
Asia, with nearly 8 per cent of global production estimates a drop of 31 per cent, with strong decreases in Jordan (21 per cent, Palestine (16 per cent) and Syria (43 per cent). Saudi Arabia and China will experience growth of 9 and 37 per cent respectively.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.