Community production of olive oil was 1,708,788 tonnes up to January, according to the latest data from the European Commission (EC). In the case of Spain, production reached 997,403 tonnes, while in Italy it stood at 347,714 tonnes.

Specifically, according to these figures published by the Community Executive, Spain's olive oil production was 42,800 tonnes in October, 169,400 tonnes in November, 457,909 tonnes in December and 327,294 tonnes in January.

The Commission expects olive oil production in Spain to reach 1 230 000 tonnes in the 2019/20 marketing year (-31.2%), while consumption will be 550 000 tonnes (+11%) and final stocks 695 300 tonnes (-7.9%).

By country, the figures from the Community executive put Italy's production at 347 714 tonnes so far this marketing year, 222 570 tonnes for Greece and 130 000 tonnes for Portugal.

As for Italy, Brussels expects a production of 359,000 tonnes. (+106%), consumption of 500 000 tonnes (+21.9%) and final stocks of 60 000 tonnes (+39.5%), while in Greece production is estimated at 265 000 tonnes. (+43.2%), consumption by 125 000 tonnes (+3.6%) and closing stocks by 62 800 tonnes (+327%). For Portugal, production is expected to be 130,000 t. (+29.6%) and consumption of 80,000 tonnes (+41.8%).

Overall, the Commission forecasts Community production of 2 001 491 tonnes. (-11.5%), consumption of 1 372 695 tonnes (-6%) and end-of-year stocks of 819 713 tonnes (-0.85%).

Source: Mercacei