According to the official data provided by the International Olive Council, Olive Oil World Production in 2017/18 is estimated at around 2.854.000 tons. This would be an increase of approximately 12% compared to the previous year.
The International Olive Council member countries as a whole estimate a production of 2.677.000 tons, which would be 94% of the total worldwide for the 2017/18 crop year, and which would be a 14% year-on-year increase.
Forecast for European Union Producing Member Countries
The forecast for EU producing member countries indicates an output of 1.896.000 tons with:
Spain in the lead with up to 1.150.000 t, 10% lower than the previous year,
Followed by Italy with 320.000 tons (+75%),
Greece with 300.000 tons (+54%),
and Portugal with 110.000 tons (+58%).
It should be noted that Portugal will achieve a crop year record on the back of the new plantations in 2003/04, predominantly in the Alentejo region.
Other International Olive Council Member Countries Forecast
Output in other IOC member countries is forecast at 781.000 t, for a year-on-year increase of 176.000 t (+29%).
Within this group of countries:
Tunisia expects to harvest 220 000 t, which would be a 120% increase,
followed by Turkey with a forecast 180 000 t (+2%),
Morocco with 120 000 t (+9%),
Algeria with 80 000 t (+27%),
Argentina with 37 500 t (+74%),
Jordan and Egypt with 25.000 t respectively, which in both cases would be a 25% increase.
Output is expected to remain stable or decrease slightly in other member countries.
Nevertheless, at the IOC alert that it is still too early to judge the accuracy of these estimates and the figures that the Council of Members will examine at the end of November will be more solid, unless exceptional weather conditions intervene.
The International Olive Council is the world’s only international intergovernmental organization in the field of olive oil and table olives. It was set up in Madrid, Spain, in 1959, under the auspices of the United Nations.
On the other hand, GEA has remarked that the planned link with the 2017/18 campaign will be below 200,000 tons, so it will be \'technically zero\'. "This figure, along with the stability in production compared to the previous season and the data of a slight increase in consumption, suggest that the market will have a very stable price evolution at around 4 €/kg. with slight rebounds in their case caused by changing weather conditions, until the end of the upcoming campaign,"