The European Commission (EC) forecasts a final campaign stock of 603,113 tons in the European Union (EU), 23% less than the previous season, of which 505,700 t. correspond to Spain, 40,800 t. to Greece, 55,000 t. to Italy and 1,513 t. to Cyprus.
The latest data from the Community Executive put olive oil production in the EU at 1,911,723 tonnes until May. In the case of Spain, production reached 1,119,881 tons, 37.4% less than the previous season. Specifically, the production of olive oil in our country was 42,900 tons in October, 170,000 tons in November, 457,800 tons in December, 332,900 tons in January, 100,800 tons in February, 12,100 tons in March, 2,083 tons in April and 1,298 tons in May.
The Commission expects that the consumption of olive oil in Spain will be 540,000 tonnes (+ 9%).
By country, the data of the Community Executive put the production of Italy at 363,501 tons so far this season; at 274,970 in the case of Greece; and at 130,000 tons in Portugal.
As for Italy, Brussels expects a production of 365,000 t. (+ 110%) and a consumption of 515,000 tons (+ 13.7%); while in Greece production is estimated at 275,000 t. (+ 48.6%) and consumption by 125,000 tons (+ 3.6%). For Portugal, the planned production is 140,500 t. (+ 40%) and the consumption of 80,000 tons (+ 41.8%).
At a general level, the Commission foresees a Community production of 1,917,991 t. (-15%) and a consumption of 1,377,695 tons (-4.1%).