IOC predicts 32% increase in global olive oil production

The International Olive Council forecasts a significant rise in global olive oil production for the 2024/25 campaign, with a projected increase of 32% to 3,375,500 tonnes, predominantly from IOC member countries. The European Union is expected to contribute 1,973,000 tonnes, marking a 29% increase, while non-EU IOC members are projected to produce 1,220,000 tonnes, a 40% increase. Spain and Greece are anticipated to see the highest increases in production. In contrast, the 2023/24 campaign saw a decrease in global production by 7%, with EU countries producing 10% more and non-EU IOC members producing 52% less. Consumption is expected to rise by 10% to 3,064,500 tonnes, with imports and exports expected to exceed 1.2 million tonnes.

Olimerca.- After collecting official data from producing countries and estimates from its Executive Secretariat, the International Olive Council (IOC) expects world olive oil production for the 2024/25 campaign to reach 3,375,500 tonnes, an increase of 32% compared to the previous campaign. In addition, imports and exports are expected to exceed 1.2 million tonnes. Most of this production, i.e. 3,193,000 tonnes and 95% of the world total, comes from IOC member countries, which represents an increase of 33% compared to the previous campaign. EU producing countries as a whole expect a production of 1,973,000 tonnes, which represents an increase of 29%. The rest of the IOC member countries should produce a total of 1,220,000 tonnes (+ 40%). In the case of Spain, as we can see in the table below, there is an estimated production of 1,290,000 tons, which would represent an increase of 51% compared to the previous campaign. Also noteworthy is the increase in Greece, of 43%, which would ...