Olive oil performance in 2016/17 and estimates for 2017/18

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Table olives – estimates 2017/18
World production for the 2017/18 crop year is estimated at 2 951 500 t. If this tonnage is confirmed, it would be a record figure, up by 3% or 88 500 t from the previous season.

This increase in production is driven by good harvests in certain IOC member countries such as Egypt, which expects to produce 650 000 t, up by 30% compared to the previous crop year, Turkey with 450 000 t (+4%), Greece with 235 000 t (+31%), Morocco with 120 000 t (+9%), Argentina with 105 000 t (+10%), Jordan with 35 000 t (+52%) and Tunisia with 28 000 t (+27%).

A decrease of 5% is however forecast in Spain and of 20% in Algeria, while production in the other member countries should remain steady or decrease slightly. Consumption is expected to remain at the same level as the previous crop year.

International Olive Council MARKET NEWSLETTER No 119 – September 2017

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