WORLD OLIVE OIL MARKET – 2014/15
Imports of olive oil by a number of countries under customs heading 15.09 and of olive pomace oil under customs heading 15.10 in the first nine months of the 2014/15 crop year (October 2014–June 2015) are reported in the table below. The data reveal year-on-year import increases of +12 pc in Japan with strong growth from March 2015. US imports remain stable after seeing decreases in March and April followed by increases in May and June. Imports by China likewise hold steady. On the contrary, imports have being going constantly downwards in Australia (−16 pc as of November 2014), Canada (−12 pc) and Brazil (-4 pc), which recorded sharp decreases in May and June. Lastly, through the eight-month period from October 2015 to May 2015, imports were lower in Russia (−26 pc), prompted by a switch of trend in December 2014.
The June 2015 data were not available for the EU at the time of publication but the figures for the first eight months of 2014/15 show an increase of 6 pc in intra-EU acquisitions and 253 pc in extra-EU imports compared with the same period a season earlier. Owing to the heavy drop in output in Spain and Italy, extra-EU imports by both countries soared, particularly imports from Tunisia (+1270 pc and +326 pc, respectively) compared with a season earlier. As reported in the previous issue of this newsletter, this upward movement began in December 2014 even before the change in the EU regulation on the tariff quota at zero-rate duty, a fact connected with the large climb in Tunisian production in the current 2014/15 crop year.
WORLD TABLE OLIVE MARKET – 2014/15
In the first nine months of the 2014/15 crop year, i.e. from October 2014 to June 2015, table olive imports (see next table) were higher in the United States (+14 pc) and Brazil (+2 pc) than in the same period a year earlier. In the case of Australia, imports have moved in the opposite direction, dropping by 13 pc since November 2014. The same applies to Canada (−1 pc). Data for Russia are only available for the eight months from October 2014 to May 2015 and show a constant drop in imports (−14 pc since December 2014).
At the time of publication, the data for June 2015 were not available for the EU but in the first eight months of the 2014/15 season, both intra-EU acquisitions and extra-EU imports went up by 5 pc versus the same period of 2013/14.World imports of olive oil and table olive on June 2015,