Word Market for Olive Oil and Table Olives: 2013/14

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1. OLIVE OIL: MARKET DEVELOPMENTS
If imports in April 2014 are compared with the figures for the same month a year earlier, it emerges that all the key markets are picking up and recording growth ranging from +8.7 pc in Australia to +37.2 pc in the United States and +137.8 pc for Canada. The only exception is China where there is a 25 pc decrease.

For this reason, trade in olive oil and olive pomace oil through the first seven months of 2013/14 only shows a decrease of -2 pc in the seven countries listed below compared with the same seven months in 2012/13, going down from 348 304.0 t to 341 288.2 t. When broken down in detail, review shows an increase in imports of 11 pc in Canada, 8 pc in Russia and 7 pc in Japan but virtually no change in the United States. Canada is particularly striking in that imports have switched from negative to positive values. Import decreases are located in China (-28 pc), Brazil (-9 pc) and Australia (-7 pc) although there have been signs of recovery in the last two countries in recent months compared with levels during the same period of the previous season.

At the time of writing, EU data were not available for April 2014 but the figures for the first six months of the season (October 2013–March 2014) report a 5 pc increase in intra-EU acquisitions and a drop of 43 pc in imports from outside the EU compared with the same period of the previous crop year. This fall in extra-EU imports seems only logical, given the good production figure for Spain.2014-07-09_olive_oil_imports

2. TABLE OLIVES: MARKET DEVELOPMENTS
In the first seven months of the 2013/14 crop year (October 2013–April 2014) table olive imports by the five countries listed in the table below fell by 3.4 pc overall versus the same period of 2012/13, going down from 215 908.4 t to 208 547.1 t. Itemised scrutiny shows imports went up in Australia (+2 pc) and the United States (+1 pc) while they remained virtually unchanged in Canada and they dropped in Russia (-12 pc) and Brazil (-4 pc). Imports into Brazil have recovered, however, in the last two months.

The EU data for April 2014 were not available when writing this newsletter but in the first six months of the crop year, intra-EU acquisitions dropped by 9 pc while imports from non-EU countries increased by 10 pc.2014-07-09_table_olives
International Olive Council Market Newsletter No 84 – June 2014

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