Italy reduces its stocks by 14.9% in July

The report by the ICQRF reveals a 14.9% decrease in Italy's olive oil stocks as of 31 July 2024, compared to the previous day and the same period last year, totaling 152,690 tonnes. Extra virgin olive oil (EVOO) accounts for 71.4% of these stocks, with a notable 10.7% increase in Italian-origin EVOO offset by a significant decrease in Community-origin EVOO. The reduction in EVOO stocks is largely due to a loss in Italian-origin oil. The stocks are primarily located in southern Italy, with a notable contribution from Puglia and Calabria, and the provinces of Bari and Perugia. Organic EVOO stocks have also seen a decrease, mainly produced in Puglia, Tuscany, Calabria, and Sicily.

According to the data provided by the report prepared by the ICQRF (Central Inspectorate for the Protection of Quality and Repression of Agricultural and Food Products) of the Ministry of Agriculture, Food Sovereignty and Forestry, based on data recorded in the computerised olive oil registers (RTO), which as of 31 July 2024 reveals an in-depth view of olive oil stocks in Italy, totalling 20,694 records. Olive oil stocks in Italy are around 152,690 tonnes, a reduction of 14.9% compared to the 179,416 tonnes available on 30 June. Oil stocks are lower (-24.2%) than in the same period last year. Of these stocks, 71.4% was represented by extra virgin olive oil (EVOO). Within EVOO, 61.9% is of Italian origin (67,450 tonnes), with Community origin representing 28.4%. Production areas 51.7% of national olive oil stocks are located in the regions of southern Italy, with a significant contribution from the regions of Puglia and Calabria (33% and 11.4% respectively). At provincial level, ...