Global production of olive oil has decreased a 3% as European Commission has just released in its latest report about the 2019/20 campaign.
One again this year more, Spain is the market leader with a total harvest volume of 1.230.000 tonnes. Italy will reach this year 359.000 tonnes, it means almost 30 % of the total Spanish harvest. Italian olive oil companies usually buy olive oil in bulk to pack in Italy their brands.
Greece will remain as the 3rd position in the European Union with a total volume of 265.000 tonnes, which means 21 % of the Spanish volume.
Portugal, our neighbor country, will reach this year 125.000 Tonnes as the 4th biggest producer in Europe.
Out of the European Union, Tunisia, Turkey, Morocco and Syria will reach 300.000, 225.000, 145.000 and 120.000 Tonnes respectively.
Spain will lead the market, not only in production but also in commercialization. The Spanish harvest will represent a 39,3 % of the world production and will assure price stability to develop the market during this year