Why China stops to buy extra virgin olive oil?

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Olive oil world production is assessed at around 3.150.000 tonns, according IOC forecast, and ending stocks are expected to be more than 480.000 tonns

Between October 2013 and February 2014, the first five months of the 2013/14 crop year, trade in olive oil and olive pomace oil decreased overall by 9% in seven countries (Australia, Brazil, Canada, China, Japan, Russia, Usa) falling from 247347 tonns to 224726 tonns.

Individually, Japan is the only market where imports increased (+2%, above all because they picked up in February 2014).

In the other countries, five-month imports dropped on average by 31% in China, 16% in Australia, 14% in Brazil, 10% in Canada, 6% in the United States and 3% in Russia.

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