Very early expectations for worldwide olive oil production and consumption in the upcoming harvest year.
The International Olive Council has published provisional data for the previous (2018/19) crop year.
The EU's predictions for olive oil in the coming decade (the Olive Oil Times report).
"With its world-class olive oil winning kudos and awards in contests and a country whose very symbol is the olive tree, Greek producers and governments have let the international market slip away to countries and lesser brands."
"With U.S. tariffs on some Spanish olive oil imports coming into force, Greek producers should have an advantage over Spain. However, the nation has not been able to profit from exporting its olive oil" much in the past.
"A sudden outburst of the fruit fly and other pathogens inflicted unexpected damage on the island's farms."
An in-depth, informative article based on an interview with an international expert. It includes worldwide production estimates for the 2019/20 crop year.
The newsletter begins with an overview of IOC meetings and workshops planned for October, including one finalizing a collaboration between the IOC and the University of Jaen. A noteworthy result of that collaboration: “The IOC expert course on the organoleptic assessment of virgin olive oils will now be taught in English as well as Spanish.” A section on Canada shows that imports of olive oil--especially virgin—and olives have increased considerably since 2005, with about 5% of world imports of each going into Canada (a bit less for olives, but Greece is the second most important table olive supplier for Canada). Surveying the world trade in olive oil and table olives, the newsletter notes increased imports from October 2018 to June 2019 (compared to the same period in the previous year) in Japan (22%); Brazil (14%); Russia (13%); China (10%); the US (9%); and Australia (7%), with a decrease only in Canada, and only by 1%. Producer prices for olive oil were down (compared to the previous year) in the main producing countries in the summer, except for a 17% rise in Italy.
"Recently imposed tariffs on some Spanish olive oil exports to the United States could help Greek producers and exporters increase their presence in the lucrative U.S. olive oil market."
"The world’s third biggest producer is not generating the export earnings that it should." An unusually well-considered, in-depth, but not very encouraging discussion of the state of the Greek olive oil sector today.
Many Greeks expect a good olive harvest this year.
Sad news for Spanish olive and olive oil producers and exporters--although the tariff could have been higher--but good news for Greeks and other Europeans, whose olive oil is not affected.
In a usefully detailed discussion on Olivenews.gr, Vassilis Zampounis writes about expectations for the coming crop year's Greek olive oil production. "While the initial estimations were at 300 thousand tons, we are now looking at 240" thousand metric tons of olive oil from Greece this year. However, he adds a crucial point: "What should be emphasized though, is the spectacular improvement in quality compared to 2018/19." (The question about price increases should not alarm consumers, as it refers to currently very low Greek producer prices more than the cost in stores.)
The International Olive Council’s (IOC’s) Market Newsletter for August begins with an overview of the world trade in olive oil and table olives for October 2018 to January 2019. It notes increased olive oil imports in Japan (23%); China (15%); Brazil (14%); Australia (13%); Russia (12%); the USA (8%) and Canada (4%) compared to a year earlier, and increased table olive imports in four major importing countries from September through May. The newsletter also discusses producer prices during the summer in four major olive oil producing countries, with 18% decreases for extra virgin olive oil in Spain and Tunisia compared to the same time last year, a 4% drop in Greece, and a 17% increase in Italy, where prices are by far the highest.
Daniel Dawson writes that the Culinary Institute of America and International Olive Council "believe that increasing olive oil consumption is a complementary goal to promoting a shift toward plant-forward cooking," which could help fight climate change.
The North American Olive Oil Association's report on an appeal to the United States Trade Representative by 19 American Congresspeople who urged that olive oil be removed from a list of products that could be subject to US tariffs on European imports.
The International Olive Council’s (IOC’s) Market Newsletter for July mentions a seminar in Marrakech, Morocco, the IOC’s participation in the 42nd session of the Codex Alimentarius in Geneva, Switzerland, and the presentation of the Mario Solinas Quality Awards in New York. It includes an overview of the IOC’s collaboration with the Culinary Institute of America (CIA) to present “The New Olive Oil Kitchen” in New York City in June. Part of the IOC’s promotion campaign in the USA, this featured a discussion of “‘Olive Oil and the Plant-Forward Kitchen,’ which presents olive oil as a key component of the Mediterranean diet that can provide inspiration for contemporary American cooking” as well as being important in a healthy, sustainable cooking trend elsewhere. The newsletter also describes a seminar the IOC co-organized entitled “Olive-Oil Supplemented Diet: Impacts on Cancer, Diabetes and Cardiovascular Health.” It then discusses the world’s major importer of olive oil, the USA. It concludes with a summary of major points about world trade in olive oil and table olives in the 2018/19 crop year, including increased olive oil imports in Japan (25%), Australia (16%), Russia (16%), Brazil (15%), China (12%), and the US (9%), and olive oil producer prices in June, which were 40% higher in Italy, 19% lower in Spain, 18% lower in Tunisia, and the same in Greece, compared with the previous year.
"Researchers from the Department of Pharmacognosy of Athens University in Greece, have managed to detect and isolate a constituent of extra virgin olive oil that could act against high blood pressure."
"Researchers from Swinburne University received funding to continue investigating the links found between adhering to the Mediterranean diet and a reduced risk of dementia."
Assuming it is ratified, this agreement could make a difference for European olive oil exports to four Latin American countries.