Supply Chain

Global Olive Oil Consumption Down 6% In 2017

Share this article

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

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days

Copyright © 2022. All rights reserved. Developed by Square1 and powered by PublisherPlus.com