Portugal Sees 75% Growth in Olive Oil Production
Portugal produced 106,000 tonnes of olive oil in 2015, which is 75 percent more than in 2014 and the highest figure since 1961.
Last year’s production was the third highest in the last 100 years and the Casa do Azeite, an association representing producers and olive oil packers, has revised upwards its production forecasts for the next four years.
The general secretary of Casa do Azeite, Mariana Matos, told Publico that the initial forecast was to reach 100,000 tonnes in 2020, but the good results achieved in the last season have led the group to anticipate production of between 120,000 and 130,000 tonnes in the next four years.
Difficulties in two of Portugal’s main markets, Brazil and Angola, which together account for 50 per cent of olive oil exports, impacted foreign sales last year. For the first time in recent years, exports dropped 4 per cent in volume. However, they grew 17 per cent in value to €436.5 million due to increased prices.
Despite the growth in olive oil production, the country remains in fourth position among the leading European producers, behind Spain, Italy and Greece.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.