Low EU Output, Rising Global Demand Boosted Olive Oil Exports by Non-EU ProducersThursday, March 1, 2018
An Olive Oil Times news report said poor harvests in the southern European producing countries and growing demand in key markets boosted olive oil imports from smaller producers in 2017. Rising demand, particularly in Brazil and the USA as well as Canada, Chile, Mexico and Spain increased olive oil buying from outside EU countries. Spain is the world’s largest olive oil producer. The increase in exports in 2017 was, in part, due to the low harvest in 2016 in Spain of fruit destined for the production of olive oil, according to José Luis Simone, head of Olivicole Simone.
Olivicola Simone is an olive oil producer based in the Argentine province of Mendoza, where olive oil sales increased by more than 100% from 2016 to 2017, growing from around 5,000 tons in 2016 to 10,000 tons in 2017. The value of the exports increased as well, reaching US$3,900/ton in 2017 from US$3,400/ton in 2016. Simone also attributed the growth to improved oil quality which, combined with the growing demand in North America, spelled a promising future for Mendoza’s producers.