Olive oil production predicted to increase while imports by key markets decline

05/12/2014 | Olive Oil Times

The estimated 480,000-metric-ton world surplus of olive oil could rise even higher given that olive oil imports by seven key non-EU markets have declined by 22,620 metric tons this season, according to an International Olive Council report. Imports by the two top markets outside Europe -- Brazil and the U.S. -- declined by 14% and 6% respectively, while imports by China fell 31%. Meanwhile, Spanish olive oil production reached a record high of more than 1.75 million metric tons during the first half of the 2013/14 season.

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