IOC: World market for Olive Oil, Table Olives and its Producers Prices

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Between October 2013 and January 2014, the first four months of the 2013/14 crop year, trade in olive oil and olive pomace oil decreased by 30 pc in China, 20 pc in Australia, 9 pc in Brazil, 8 pc each in Canada, Russia and the United States and 1 pc in Japan.

The EU data for January 2014 were not available at the time of publication, but the figures for the first three months of the season (October–December 2013) report a drop of 2 pc in intra-EU acquisitions and of 10 pc in extra-EU imports compared with the same period of the previous crop year.

Further scrutiny of the figures for January 2014 reveals that imports by Australia, Japan, the United States and Canada have picked up from the level of December 2013, unlike China, Brazil and Russia where they continue downwards.

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Table olive imports in the first four months of the 2013/14 crop year (October 2013–January 2014) rose by 6 pc in the United States and 3 pc in Australia but fell by 13 pc in Russia, 12 pc in Canada and 10 pc in Brazil. Again, the EU data for January 2014 were not available when writing this newsletter. However, in the first three months of the crop year, intra-EU acquisitions dropped by 8 pc and imports from non-EU countries by 3 pc.

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OLIVE OIL PRODUCER PRICES
Graph 1 tracks the weekly movements in the prices paid to producers for extra virgin olive oil in the three top EU producing countries plus Tunisia while Graph 3 shows the weekly changes in the producer prices for refined olive oil in the three main EU producers. The monthly price movements for the same two grades of oil are given in Graphs 2 and 4.

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