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Global Olive Oil Consumption Down 6% In 2017

Published on Jan 3 2018 11:30 AM in Supply Chain tagged: olive oil / Olive Oil Production / International Olive Council

Global Olive Oil Consumption Down 6% In 2017

Global olive oil consumption in the 2016/17 crop year is estimated to hit 2.8 million tonnes, down 6% on the previous year.

According to the International Olive Council (IOC), EU countries consumed 1.46 million tonnes of oil during this period (-12%), with consumption falling in Greece (-25%), France (-17%), Italy (-14%), and Spain (-7%).

However, consumption in the other IOC member countries increased by around 2%.  The highest levels of growth were seen in Turkey (+34%), Lebanon (+11%) and Iran (+5%).

Among the non-member countries, notable increases in consumption were observed in Brazil (+19%), China (+13%), Australia (+7%) and Japan (+2%). Consumption, however, declined in Canada by 4% and in the US by 2%.

2018 Estimates

According to estimates, world olive oil production in 2017/18 is expected to increase by 14% to around 2.89 million tonnes. The aggregate output of IOC member countries is estimated at 2.71 million tonnes, with EU countries accounting for 1.80 million tonnes (+3%).

Production in Spain is estimated at 1.09 million tonnes (-15%), followed by Italy with 320,000 tonnes (+76%), Greece with 300,000 tonnes (+54%), and Portugal with 78,800 tonnes (+14%).

Production in other IOC member countries is predicted to grow by 51% year-on-year. The main increases are expected in Turkey, which is set to reach 287,000 tonnes (+62%), followed by Tunisia with 220,000 tonnes (+120%), Morocco with 140,000 tonnes (+27%), Algeria with 80,000 tonnes (+27%), and Argentina with 37,500 tonnes (+74%).

Global olive consumption for 2017/18 is estimated at 2.95 million tonnes (+5%).

© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine

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