Wiki Spanish Food editorial team
The Ministry of Agriculture, Fisheries and Food has published its olive oil bulletin for the first month of the 2018/19 campaign, and production was one-fourth the figure year-on-year due to delayed ripening and rain in the last few weeks, which hindered olive picking. However, market resources exceeded past campaigns, as there is a larger inventory to start with, with higher volumes at olive oil mills and packaging companies.
Total sales amounted to 117,300 tons, with record exports for the first month of the campaign and a domestic market that has lost part of its share of the total due to the sharp increase in exports.
Olive oil prices have climbed slightly in recent weeks in the context of increases across the board in international markets. Prices in the extra virgin category in Spain surpassed those in Italy, Greece and Tunisia. In the case of table olives, in the second month of the 2018/19 campaign, there was a widespread delay in olive picking, for all varieties, and an improvement in sales with respect to the previous campaign.
Moreover, the bulletins on foreign trade of olive oil and olive pomace oil at the end of the 2017/18 campaign have been released. Olive oil exports, which totaled 876,825 tons, was lower than in previous campaigns despite the increase in recent months. Revenues exceeded 3 billion euros and remain above average. The decline in exports has been greater in the EU, with Italy registering a 26% decline due to the recovery in production. Imports exceeded previous campaigns with a larger number of non-EU countries.
In the case of olive pomace oil, with 108,001 tons and 281 million euros, a new export record was set, in terms of volume and value. EU exports were very high, although there were slight declines in exports to non-EU countries. Imports also reached a new high due to production increases at the main sources of origin for imports during this campaign.