Global olive oil production is poised to increase by 12% in the current crop year but will still fall under the average harvest rate of the last five years, according to the International Olive Council (IOC).
The IOC was projecting this season’s production – calculated from September 2017 to August 2018 – to rise to 2.598M tonnes from the 2.302M tonnes harvested in the past year, the Olive Oil Times wrote on 12 October.
Despite the estimated production increase, the results would still fall under the five-year average of 2.671M tonnes, which failed to reach the 2.721M tonnes produced in 2004.
Spain’s production was expected to reach 1.043M tonnes – 10% less than last year – while Italy was poised to register a 75% increase in production from the poor results of the last season, climbing to 290,299 tonnes.
Greece was expected to rebound from last year’s plague of fruit flies and heatwaves as well with a production estimate of 272,155 tonnes.
Portugal, could set its all-time record with an estimated 90,718 tonnes due to increased plantings in the Alentejo region, while Tunisia was expected to double its production, reaching 199,580 tonnes, the IOC said.
Elsewhere, Argentina’s output was projected to reach a record as well, climbing to 34,000 tonnes, while Algeria was expected to produce 72,574 tonnes, Morocco 108,862 tonnes and Turkey 163,293 tonnes.
The IOC is projecting consumption to reach 2.62M tonnes, approximately the same as in 2003 when the world’s population was 1.2bn individuals lower.