Imports of olive oil (customs heading 15.09) and olive pomace oil (customs heading 15.10) through eleven of the 12 months in the 2014/15 crop year (October 2014–August 2015) are reported in the table below for a number of countries. Compared with the same period in 2013/14, Japanese imports have risen by 11 pc, showing strong growth since March 2015.
Imports into the United States have gone up by 1 pc while remaining stable in China. Conversely, imports are lower in Australia (−20 pc, moving constantly downward since November 2014), Canada (−9 pc) and Brazil (-6 pc), which recorded sharp decreases in May and June. The August 2015 data for Russia were not available at the time of writing but the ten-month figures are lower (−29 pc), prompted by a switch of trend in
The August 2015 data were not available either for the EU at the time of publication but the figures for the first ten months of 2014/15 show steady intra-EU acquisitions but a steep 295 pc in extra-EU imports compared with the same period a season earlier.
Owing to the heavy drop in 2014/15 production in Spain and Italy, extra-EU imports by both countries soared, particularly imports from Tunisia (+1300 pc and +359 pc, respectively) compared with a season earlier.
As reported in the previous issue of this newsletter, this upward movement began in December 2014 and is connected with the large climb in Tunisian production in 2014/15, which positioned Tunisia as the world’s top exporter that season.
WORLD TRADE IN TABLE OLIVES – 2014/15 CROP YEAR
In the eleven months from October 2014 to August 2015, table olive imports (see next table) were higher in the United States (+11 pc) and Canada (+1pc) but lower in the rest of the countries reported, i.e. Australia (−12 pc since November 2014) and Brazil (−6 pc since April 2015). In the case of Russia, again the August 2015 data were not available at the time of writing but the ten-month data show a constant drop since December 2014 (−16 pc).
At the time of publication, the data for August 2015 were not available for the EU but in the first ten months of the 2014/15 season, intra-EU acquisitions and extra-EU imports went up by 6 and 1 pc respectively versus the same period of 2013/14.
Extra virgin olive oil price movements in the three top EU producing countries and Tunisia