World market for olive oil & table olives in the first six months of 2014/15

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1. OLIVE OIL IN THE FIRST SIX MONTHS OF 2014/15
For the first six months of the 2014/15 crop year (October 2014–March 2015), the figures for trade in olive oil under customs heading 15.09 and olive pomace oil under customs heading 15.10 in the countries listed in the table show year-on-year import increases of +9 pc in Japan (there has been a sharp increase in March 2015), +5 pc in Brazil, +2 pc in the United States where the strong import growth in February 2015 made up for the drops in December 2014 and January 2015, and +1 pc in China. In contrast, imports were lower in Russia (−14 pc) owing to a switch of trend as of December 2014, as well as in Australia (−10 pc as of November 2014) and Canada (−7 pc).

The March 2015 data were not available for the EU at the time of publication but the data for the first five months of 2014/15 show an increase of 10 pc in intra-EU acquisitions and 100 pc in extra-EU imports compared with the same period a season earlier. Owing to the hefty drop in output in Spain and Italy, extra-EU imports by both countries soared, particularly imports from Tunisia (+599 pc and +310 pc, respectively) compared with a season earlier. As reported in the previous issue of this newsletter, this upward movement began in December 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 2014/15.
2015-06-09_19542. TABLE OLIVES IN THE FIRST SIX MONTHS OF 2014/15
In the first six months of the 2014/15 crop year, i.e. from October 2014 to March 2015, table olive imports (see table below) were higher in the United States (+13 pc) and Brazil (+8 pc) than in the same period a year earlier but moved in the opposite direction in Australia, where they have dropped by 17 pc since November 2014, as well as in Russia (−7 pc since January 2015) and Canada (−4 pc).
At the time of publication, the data for March 2015 were not available for the EU but in the first five months of the 2014/15 season, intra-EU acquisitions increased 5 pc and extra-EU imports rose 18 pc compared with the same period of 2013/14.

2015-06-09_1959 Source: International Olive Council MARKET NEWSLETTER No 94 – May 2015

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