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New crop year begins positively for Olive Oil sales Written by Tuesday, 07 February 2017
New crop year begins positively for Olive Oil sales
The 2016/2017 crop year opened with significant increase in sales for olive oil and olive pomace oil.

According to a report of the International Olive Oil council, acquisitions in major six markets (Australia, Brazil, Canada, China, Japan, Russia, USA) present significant increase that reach even 98,6% (China) or 65 % (Australia) compared to the same period last year. Data for EU is available only for October and for extra-EU imports they show a decline by 56% while intra-EU acquisitions appear to be increased by 24% .

As far as producer prices for extra virgin oil in Spain, Italy, Greece and Tunisia are concerned, they appear also increased with those of Italy reaching 5,90/kg, a 70% change compared to last year! At the same time, prices in Greece went up by 17% at the end of January 2017 compared to January 2016, reaching 3,46/kg (which still remains the lower price compared to the 3,64/kg in Spain, the  5,90/kg in Italy-as mentioned above- and the 3,88/kg).