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Production of olive oil expected to decline Written by Tuesday, 18 October 2016
Production of olive oil expected to decline
The IOOC says production for the year 2016/17 will go down for Greece and the world
The International Olive Oil Council met on 3 October and according to its estimates, the world production in 2016/17 is expected to be lower by 7%  compared to the previous year, reaching the approx.. number of 2.918.000 t. Consumption is forecast to decline as well at 2.948.000, 0,5 % lower than the 2015/16. Imports are expected to reach 792.000 and exports 788.000 respectively.  According to the same study, Greek production will see one of the biggest reductions in Europe with 260.000 t., 19% lower compared to the year before.