World olive-oil production is predicted to slump in 2014-15

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Spanish output of first-pressed oil is forecast to fall to 830,000 tons from 1.77 million tons, while production including residue oils obtained from pressed olive pulp is seen falling to 900,000 tons from 1.92 million tons, Oil World said.

Rising production in Greece will partially make up for the drop in Spain, with the volume of pressed oil climbing to 300,000 tons from 158,000 tons. Italy’s olive-oil output is seen little changed at 455,000 tons, from 450,000 tons.

Tunisia’s production of the oil may rise to 260,000 tons from 80,000 tons, which is “good news” for European consumers, according to Oil World. In Syria, output is expected to receive “a major blow” as a result of the civil war as well as drought, dropping to 50,000 tons from 135,000 tons.
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