The EU Advisory Committee for olive oil published its conclusions on last year’s olive oil production and its estimates for the next.
The olive oil production, for the year 2015/16 within EU amounted to 2.3 million tons and was increased by 61% compared with the previous. This increase is attributed mainly to a great increase in Spanish production and an almost doubling of Italian production. The output of Greek producers increased by about 7%.
The production of other Mediterranean countries, such as Tunisia, Turkey, Morocco and Syria, recorded a decline totalling at about 400,000 tonnes. These relatively lower production of Tunisia reduced its exports to the EU that are carried out with preferential tariff arrangements and generally is expected to reduce the pressure on the European countries production.
Olive oil prices, especially in Italy and Spain, following a period of growth in 2014/15, experience a slight downward trend. In Greece, however, the variations follow a completely different logic than the rest of Europe.