The Rise of Olive Oil Exports

According to an announcement by the Ministry of Agriculture, Fisheries and Food on 13 August, olive oil exports exceeded a turnover of more than 2 billion euros during the 2017-2018 season.

In terms of olive oil production and exports, Spain holds the number one position in the world. It also ranks fourth among Spain's most exported products, behind citrus fruits, wines and pork. Olive oil makes a significant contribution to the country's economy in terms of commercial activity.

Olive oil in recent years

In recent years, exports of bottled olive oil have grown at the expense of bulk olive oil. Exports of this product between October and May fell by 25.45% compared to the previous year, with a turnover of 2.014 billion euros.

Meanwhile, Italy remains the primary export destination despite a recent reduction in shipments to that country, which reached 117,000 tonnes.

In the case of olive pomace oil, exports hit record highs for this period, surpassing the previous season. Revenue generated by this product alone reached 203 million euros.

Furthermore, demand for this product has grown in countries outside the European Union — by 6% in Brazil, 5% in Australia and 18% in China. The United States, however, saw a decline of up to 24%.

Olive oil imports

Turning to imports, the figures show considerable variation in this product's trade flows.

So far this season, imports have reached 115,878 tonnes, up 73.57% on the previous year. Olive oil imports from EU countries totalled 49,110 tonnes, while imports from third countries reached 66,768 tonnes.

According to EFEAGRO (Spain's only news agency specialising in agri-food information), Tunisia led the surge in extra-EU arrivals with an increase of 250% over the previous season, representing an additional 25,024 tonnes; Argentina followed with a rise of 451% (+5,166 tonnes).

If you'd like to explore more insights about olive oil, take a look at our other articles.